Internet Gaming Entertainment, a worldwide leader in the market for buying and selling virtual property used in multiplayer online games, announced today that it has agreed to acquire substantially all of the assets of Yantis Enterprises, Inc. The deal involves both cash and equity in IGE’s parent company, the Boca Raton, Florida-based IGE U.S. LLC.
“Jonathan Yantis is an entrepreneur who blazed the trail in creating a market for the exchange of virtual currency and property,” says Brock Pierce, CEO of IGE U.S. “This acquisition is a big step for both us and the virtual currency exchange market as a whole, and solidifies our position as the largest player in this market by far.”
Yantis will be joining IGE U.S. as COO and a member of the company’s board of managers. Other members include Pierce, Randy Maslow, senior veep and general counsel of IGE U.S. and Alan Debonneville, President of the IGE subsidiary in Hong Kong. “This is a marriage of the two pioneers in this industry,” says Yantis. “I’m excited to be joining IGE and look forward to our future successes together.”
Massively multiplayer online role-playing games like EverQuest and Ultima Online are filled with virtual property such as magic weapons, in-game currency, houses and characters that are bought and sold on auction exchanges, with thousands of dollars trading hands every day. With more than 80 employees and thousands of suppliers, IGE claims to be the largest provider in the world of virtual currency exchange and game-enhancement services to players of MMORPGs. The company provides 24/7/365 customer service and tech support from its state of the art operations center in Kowloon Bay, Hong Kong.