Universe  Universe / Games

Transformers MMO Developer Infused With Money By Venture Capitalist, Will Use Money to Accelerate Product Launches

Venture capitalist firm Insight Venture Partners has purchased an additional stake in Jagex, the company responsible for the Transformers Universe massively multiplayer online (MMO) action game, giving the firm a 55% stake in the company.

In a report by Develop, the New York-based firm now has controlling stake of the Cambridge, UK firm, but does not seem to want to trifle with anything from the developer.

With the money, Jagex will pay down £2.5 million in debt and the rest of the money will "help to accelerate" the studio's product launches, said Jeff Horing, managing director at Insight Venture Partners.

Jagex claims that they had "significant reserves of cash" and are investing in multiple projects.

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