MMO Developer Gazillion Raises $60 Million

Lego Universe

The massively multiplayer online game market has lately been overshadowed by the boom in social gaming, but money is still flowing into the sector. Gazillion Entertainment, which has an exclusive license to develop games based on Marvel (NYSE: DIS) Entertainment’s brands, has raised $60 million from Singapore PE firm Temasek Holdings. The company says it’s entering a “key phase of expansion.” In September, it released Lego Universe, a new MMO game based on the Lego toys, which has received accolades from reviewers. The first game under its deal with Marvel will be released early next year.

Gazillion operated in stealth mode until March 2009, when it announced its deal with Marvel, which was subsequently purchased by Disney. Its other backers include Hearst Corp., Abu Dhabi Media Company, Revolution Ventures, and Pelion Ventures.

Temasek Holdings, which is owned by the Singapore government, has a number of media holdings in its portfolio including Singapore TV and radio broadcaster MediaCorp, as well as a significant stake in Indian telecom firm Bharti Airtel; it has also backed Chinese video site Tudou as well as Chinese gaming site 9You.

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