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Company Background
Bits was founded in
1985 as a video games developer and has created over 30 titles that have collectively achieved a somewhat unimpressive 5m+ in combined unit sales. Over the years, the Company has produced a number of original titles
but its main focus has been on license and conversion development.
The Company worked with a variety of publishers although it forged a particularly close relationship with Nintendo for several years. Bits has used a standard advance-based development model although it adopted a novel business model in securing the European games rights to Die Hard and the global rights to Constantine.
Bits secured the rights directly from the rights holders Fox and was thus in a position to select not only a suitable publisher to work with on the project but also to gain more favourable publishing terms. However,
Bits' games have met with limited critical and commercial success and, following the development of a gambling video game in 2005, the Company decided to re-focus away from traditional video games towards gambling.
Bits is headquartered in London and employs 60 people including 6 staff in France. It raised £3.5m of new money when it floated on AIM in September 2000 and completed a £390k emergency fund-raising in August
2002 and a further £100k raise in December 2003. Following its refocus towards the gambling market, Bits raised £1.5m in equity funding and established a further £1.5m convertible loan facility in March 06.
Activities
Gambling game development
Key Titles: None
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