Business 2.0′s Matt Maier also known as GigaOM mini in these parts has scooped me in my own backyard (Okay former backyard, but since parents are in town, I can for a minute pretend its my backyard!)…. He is reporting that, IndiaGames, a leading wireless game developer in India, has snagged some serious dinero, or should I say rupees from Cisco and Macromedia.
One of India’s largest mobile content developers, the Mumbai-based company is majority owned by TOM Online, operator of one of China’s most successful Internet portals. TOM, took an 80 percent stake (or about $18 million) in Indiagames this past December. Cisco’s share should amount to roughly 10 percent for $2.2 million, while Macromedia’s will come out to an 8 percent stake for $1.8 milllion.