Facial-animation software and services company Image Metrics has completed a deal for $8 million in financing to expand its sales and marketing efforts.
The company also has completed a deal in which it has exchanged all of its outstanding shares with International Cellular Accessories, becoming a wholly owned subsidiary. The publicly traded ICA will change its name to Image Metrics Inc. and will soon adopt a new stock symbol.
Image Metrics’ animation technologies have been used in award-winning and top-selling videogame and feature film projects. Its clients include Activision-Blizzard, Bethesda, Electronic Arts, Sega, Sony Computer Entertainment, Take Two Interactive, Ubisoft and Warner Brothers.
The new funding will support sales and marketing for its core software and services business, to support the launch of facial animation software and to explore new markets such as virtual worlds, gaming and social networks.
‘Our proven animation technology allows video game studios to significantly improve the time to market for their games while simultaneously reducing development costs,’said Michael Starkenburg, Image Metrics CEO. ‘We are now staffing up sales and marketing to take advantage of a growing base of client testimonials, awards, press and word of mouth to grow both the size of the facial animation market and our market share.’