Posts Tagged ‘jim crowley’

Warner Bros. acquire Turbine

Wednesday, April 21st, 2010

And now the circle is complete. Warner Bros. announced yesterday that they’ve acquired the largest privately held games developer in North America, Turbine. This successful acquisition now puts all of the Lord of The Rings based titles under Warner’s roof.

Turbine, developers of some of the most frequented MMO’s on the internet including Lord of The Rings Online and the (semi-recent) free-to-play revival of their popular Dungeons and Dragons Online: Eberron Unlimited, was founded in 1994, and has raised over $46 million in funding since 1998. Their initial release, Asheron’s Call was published by Microsoft in 1999. Turbine later re-acquired the publishing rights to this title.

While the terms of the deal were not disclosed, one Boston Globe report hints at the purchase price in the $160 million range, based on a “source close to the negotiation.” And while this number seems lofty, when one considers what Warner Brothers just added to their stables, it might be the bargain of the year. Warner Brothers has been slowly but surely ramping up their presence in the video games market over the past several years, acquiring one studio after another. With the Turbine acquisition, Warner Bros. now have access not only to Turbine’s development staff, but their tested and proven free-to-play business model. And don’t forget about Turbine’s deep index of experience when it comes to direct-to-consumer relationships via their well developed social networking platform.

“Turbine is recognized globally for its industry-leading technology, groundbreaking graphics and its unique ability to create and operate massive and persistent online worlds which greatly enhance players’ social gaming experiences,” said Martin Tremblay, president, Warner Bros. Interactive Entertainment. “The Lord of the Rings Online and Dungeons & Dragons Online have both been an enormous success for Turbine and we look forward to working with their talented development team to continue creating award-winning online games.”

From Turbine’s side, CEO Jim Crowley comments, “This acquisition is very exciting because it allows us to expand globally while continuing to focus on creating spectacular online games that our loyal fans and players have come to expect.”

And while Warner Brothers have an investment past with Turbine, it’s fair to say that they’ve had their eye on Turbine for quite a while now. Not only to complete the IP collection of J.R.R. Tolken products, but also as a way to jump into the free-to-play market, and thus capitalizing on the plethora of virtual goods monetization potential. Turbine was great before the acquisition – let’s see what new cash and a much wider reach can bring.

Congrats Turbine! We expect nothing but good things. :)

 

Jan Robert Horsfall takes on Chief Marketing Officer position with Turbine

Tuesday, March 17th, 2009

Turbine announced yesterday that they’ve created a new position at their Westwood, Massachusetts headquarters, Chief Marketing Officer, that will be filled by Mr. Jan Robert Horsfall.  In this position Horsfall will be responsible for leading the companies worldwide branding efforts as well as oversee all consumer and partnership marketing programs, including product planning and positioning, and execution of customer acquisition and retention strategies.

“Jan is a veteran marketer with very deep experience in both consumer and online marketing which will help us reach customers in new, innovative ways,” said Jim Crowley, President and CEO of Turbine, Inc. “He brings a proven track record in building surging brands, leading large and successful teams and a deep understanding of what makes consumers tick. We expect his leadership to create world-class marketing programs that drive additional growth for Turbine. Again, it’s clear we’re putting one of the best senior teams in the business together at Turbine!”

Horsfall does not come to Turbine with a gaming pedigree, but rather a myriad of varied experience from a number of industries, including consumer and merchant brand organizations in the Internet, Energy, Telecom and Retail.  And while Horsfall will be focusing on marketing, he’s had past experience with the ‘Big Picture’, having served as CEO for a number of successful companies including Gelazzi, Inc., Whie Summit Strategies, Inc., and Gemini Voice Solutions.  In his role as Vice President of Consumer Brand Strategy at the Valvoline Company, Horsfalls is the man responsible for widespread organizational and strategic changes that saw the company rise from the #5 market share position to  a leading industry position.   Most notable in Mr. Horsfalls’ resume is/was his position as Vice President of Marketing for Lycos Inc.  Lycos still holds the record for worlds’ fastest IPO in NASDAQ history, and was sold to Spain based Terra Networks S.A. in 1999 for $7.5 billion.

“Turbine has built an amazing brand experience with strong global recognition and incredible good will,” said Horsfall. “This is a tremendous opportunity to build upon the company’s strong reputation. The clear goal is to understand our consumer’s values in light of the constant technology and creative innovation which Turbine is known for, and then lead the team that is integrating these brand experiences into our consumers’ lives. It comes down to making these brands naturally indispensible based upon tying together those consumer values and the amazing stuff we’re creating which nobody has ever seen. I hope to combine my enthusiasm for online communities and gaming with my passion for the consumer to help the Turbine brand realize its greatest potential.”

So why create a new position now?  Aren’t Turbine’s offerings cranking in millions of players everyday?  The answer would be yes, but lest we forget what Turbine’s got in the works: a microtransaction based title, a first for the company.  After the flurry of activity around the first of the year (remember Turbine’s public posting of a job ad looking for a microtransactions manager?), if Turbine was getting ready to launch a first, wouldn’t it make sense for them to get a good marketing manager on board?  New and innovative product in the pipe + new position of Chief Marketing Manager = coincidence?

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Turbine lands $40M in financing via Time Warner and CGV Capital

Thursday, June 5th, 2008

Turbine Inc. makers of top titles ‘The Lord of the Rings Online’, ‘Shadows of Angmar’. ‘Dungeons and Dragons Online’, and ‘Asheron’s Call’ have sealed a $40M financing deal with top investors Time Warner Inc. and CGV Captial.

Time Warner Investments target non-control strategic investments, and is an integral part of the Time Warner parent company, a leading (if not THE leading) media and entertainment company in the US.

CGV Capital is a leader in expansion-stage venture capital investments in the U.S. and China.  The firm manages over $1B in global capital from it’s offices in Silicon Valley, Shanghai and Singapore.

“Our investment in Turbine is an important addition to Time Warner’s entertainment initiatives,” said Rachel Lam, Senior Vice President and Group Managing Director of Time Warner Investments. “Online interactive
entertainment is a huge growth market and we are very excited about Turbine, its unique capabilities and the obvious opportunities that exist with our own broad portfolio of IP.”

“The demand for massively multiplayer online worlds is exploding both geographically and in terms of platforms served,” said Hany Nada, managing partner, GGV Capital. “Turbine is a proven leader in massively interactive online entertainment and the incredible technology that supports it. We look forward to marrying our strengths both here and in Asia with Turbine’s unique capabilities.”

Turbine CEO Jim Crowley says, “This is truly an exciting time for Turbine. The addition of Time Warner, one of the world’s largest media companies, and GGV Capital, one of the financial community’s most sophisticated investors, adds a level of access, perspective and experience to Turbine that is singularly unique in the global online entertainment space. Turbine has an extraordinary team, incredible technology and a growing portfolio of games based on some of the most popular brands ever created. With this funding we are uniquely positioned to change the future of online entertainment as we bring new titles to market, expand the platforms we support and introduce new technologies to sustain self-evolving game worlds.”