Geneva, January 12, 2001
Nascendo backs XS Arena, Leading European Network
Nascendo announces that it has taken
a 20% stake in XS Arena, the first operator of large scale network
gaming arcades in Europe. From its Paris head office, XS Arena
has an ambitious European expansion plan to roll out a chain of
Multimedia Arcades specialised in network gaming. XS Arena benefits
from its experienced management team with a track record in the
operation of gaming arcades and from a very strong underlying
market in Europe with expected growth in excess of 100% over the
next 5 years.
Marin le Corre, Chief Executive of
Nascendo S.A commented: "The network gaming industry is in its
infancy in Europe and we see a unique opportunity for XS Arena
to capture a share of this exciting new market predicted to exceed
$ 5 billion by 2005 in Europe. The founders of XS Arena have a
successful track record in the industry and an aggressive expansion
plan both of which meet our investment criteria".
XS Arena will combine quality of services
(high definition screens, comfortable surroundings, high tech
bar, fast food restaurant and other facilities) and varied entertainment
to make gaming a unique experience for customers. Online tournaments
and competition will be organised by professional staff, as well
as exhibitions and demonstrations appealing to game enthusiasts
and encouraging socialising around common technology interest.
Albin Perigault, founder and Chairman
of XS Arena stated: " We want to bring high professionalism and
a strict retailing approach to the network gaming industry in
order to make it a unique experience for game enthusiast. Our
large-scale format with sites equipped with over 300 machines
gives us a unique competitive advantage on which to capitalise.
We are pleased to have secured Nascendo as financial partners
who will assist with our expansion plans and strategic direction".
XS Arena is in advanced discussions
with leading industrial partners to strengthen its technology
offering and support in Europe.