CiRCLE ESTABLISHES DVD GAMES PUBLISHING ARM WITH FUNDING ASSISTANCE FROM BANK OF SCOTLAND CORPORATE

Circle Studio, the Derby-based software company originally responsible for the creation of blockbuster video games franchise Tomb Raider, has secured seven figure funding from Bank of Scotland Corporate to expand its business into the brand new DVD games sector.

The funding will allow Circle to exploit this exciting new format and the company has already acquired several exclusive licenses to produce official DVD games for super-brands such as the 2006 FIFA World CupTM, Eurosport, Discovery Channel, Discovery Kids and the NBA.

Circle is an independent software developer and publisher, employing around 50 people. The majority of its staff are highly skilled software developers and the company has secured its new funding from Bank of Scotland in order to optimise the operation of its new DVD games publishing division.

Circle considered a flotation on the AIM market last summer to help fund expansion but preferred to keep its business in private hands. The company’s first venture into the DVD games sector in December 2005, a collaboration with Virgin and EMI/Universal called ‘Now That’s What I call a Music Quiz’, topped the UK sales charts almost immediately. It has now sold over half a million copies and is the fastest-selling DVD game to date.

Circle was founded in 2003 by Jeremy Heath-Smith and Adrian Smith. The brothers share over 40 years’ collective experience in the sector and are games industry veterans. They plan an aggressive release schedule over the coming months, commencing with games based on two of Dreamworks’ blockbuster animated movies: Shrek and Madagascar. These titles are to be followed with the official Eurosport quiz game, two Discovery Kids adventure games and the FIFA World Cup title.

Circle CEO Jeremy Heath-Smith says “Bank of Scotland Corporate reacted quickly and efficiently to our business proposal and was able to make a decision within days. Their grasp of our new business in such a short time is a credit to the team”

Nigel Wilson, Relationship Manager for Bank of Scotland Corporate in Derby, said, “I am very pleased to have been able to offer this innovative Derby-based business the necessary level of funding to enable it to continue to develop and grow. We were able to put these facilities in place very quickly thus enabling the company to take advantage of the significant opportunities that exist in their marketplace.”