Santa Monica,
Calif. – Image Metrics, a
provider of facial animation software and services for the entertainment
industry, announced on Thursday that it has raised $8 million in a private
placement of its shares.
The company also said it completed an exchange offer
with International Cellular Accessories, which resulted in its becoming a
subsidiary of ICLA and a publicly-traded company.
Founded in 2000, Santa
Monica, Calif.-based Image Metrics’ animation technologies have been utilized
in movies including "The Curious Case of Benjamin Button," and video
games like "Grand Theft Auto" and "Assassin’s Creed II."
The company reported revenues of $4 million and a net loss of $6.8 million for
fiscal 2009.
Image Metrics plans to use the new funds to expand sales and
marketing efforts, and to explore opportunities in new markets like virtual
worlds and social networks.
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