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Company Background
Akaei is the games arm of AIM-listed On-Line PLC. On-Line was founded in 1989 as a games
developer and publisher. Under the On-Line name, the Company has developed a number of titles, most notable of which was the game version of the film Lawnmower Man which was published by SCi. The Company was one of the first to explore the internet as a games platform and released a range of internet-only games including Air Warrior, a combat flight-sim and Iron Wolves,
a submarine simulation. Following the expansion of On-Line into internet markets such as financial web sites and online advertising services, On-Line principals Clem Chambers and Michael Hodges returned to their
roots with Akaei a dedicated games publisher which listed on AIM in mid 2001. Akaei acts as a developer and a thin publisher; its activities revolve around licensing finished product from third party
developers and publishers for publishing in the UK and Europe.
On-line floated in
November 1996 raising £350,000 and raised an additional £900,000 in January 1999. Akaei raised £125,000 on flotation in July 2001 and an additional £400,000 in February 2002. On-Line retains a 65% stake in Akaei but intends to reduce this to around 25% over the next 4 years.
Activities
The Company principally acts as a thin publisher and has licensed 5 titles from third party
developers. It has also signed 2 development deals for football management games using the Rangers and Celtic football brands.
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