ITV to invest in £2.5m for minority stake in Live Tech Games
Updated : 14:53
Broadcaster ITV has agreed to invest £2.5m in cash for a minority shareholding in Live Tech Games, a platform that combines mobile entertainment and live gaming tournaments.
ITV described the company as "pioneering a new wave of mobile entertainment, creating live, player-vs-player, accessible, short-form games and transforming them into rewarding nationwide experiences on your mobile phone".
It said noted that Live Tech is developing simple games that are designed to bring the general public together in short five-to-10-minute bursts.
The investment has arisen as part of Studio 55 Ventures, an ITV initiative launched in 2020 to invest in new business ideas that are unique, solve identifiable consumer needs and aimed at materially enhancing the company’s reach among 16-34 year olds.