The company has invested $600,000 in internet multiplayer game start-up Journeys
IDB Holding Corp. Ltd. (TASE:IDBH) technology investment arm Elron Electronic Industries Ltd. (Nasdaq: ELRN; TASE: ELRN) has made its first investment in the internet and cellular field by providing a convertible loan of $600,000 to Israeli start-up Journeys Ltd.. Journeys is developing a casual internet multiplayer game appealing to a wide audience.
Journeys was established earlier this year by three Israeli entrepreneurs, CEO Guy Bendov, one of the founders of DoubleFusion Ltd., which specializes in in-game advertising, COO and CTO Sharon Priel, former VP technology of online financial paper “TheMarker”, and Chief Creative Officer Assaf Priel, a co-founder of Inkod-Hypera Ltd., an Israeli visual concept house.
Elron VP Assaf Topaz said, "The Journeys team is creative with significant technological experience and a proven track record. Journeys is developing the next generation of computer games integrating a unique game experience with advanced abilities in creating social networking. The combination of this winning team and the unique product they are developing is expected to make this company one of the major players in this field."
Published by Globes [online], Israel business news - www.globes.co.il - on July 1, 2007
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