Page 14 - bne_Tech_03_2019

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March 2019 www.intellinews.com I Page 14
Russian state-backed tech fund Rusnano exits US Wi-Fi chipset provider Quantenna with high return
EWDN in Moscow
Rusnano, the Russian state-controlled nano- technology corporation, has exited Quantenna Communications, a US-based provider of high- performance Wi-Fi solutions, six years after an investment of around $20mn in the company, reports East-West Digital News.
Revealed by SEC documents and confirmed by Rusnano, the exit transaction took place December 2018. The Russian firm received some $43mn in exchange for its stake of
Turkey’s gaming exports hit $1bn+ in value last year says GIST expo rep
bne IntelliNews
Turkey’s gaming exports were worth more than
approximately 7% in the Quantenna.
This provided Rusnano with a “more than fourfold ROI or 28.9% IRR in ruble equivalent,” according to Rusnano’s press service, or around twofold in US dollars, taken into account the ruble’s sharp depreciation since the year of the investment.
Quantenna has a Russian R&D team of around 60 researchers and engineers, whose microschemes are praised by industry experts.
$1bn in 2018, Anadolu Agency reported the brand and marketing communication manager of the Gaming Istanbul 2019 (GIST 2019) expo as saying on February 5.
Meric Eryurek also said that some 600 enterprises work on game development in the country, while it was notable that more than half of Turkey’s population of 81mn are under the age of 25 and generally know the gaming sector very well, the news service reported.
Four hundred truckloads of coal equal a truckload of iPhones, but a truckload of a software brand, such as Instagram, can equal 400 trucks of iPhone, Eryurek was cited as saying, adding: “The [global] gaming industry has taken over the book and music sectors, Hollywood and Netflix in terms of income.”
GIST markets itself as among the five biggest gaming events in Europe and, given that Istanbul is at the crossroads of Europe and Asia, as the biggest gaming expo in the Middle East.
Gaming and technology companies such as Tencent, Ubisoft, Fortnite, Dell, HP, Microsoft, and Sony were due to exhibit at GIST.
The global gaming industry’s size was around $140bn in 2018, according to the Global Games Market Report, issued by the gaming analysis company Newzoo.
“Only the series sector is a rival for the gaming sector but it won’t last long... Projects which started with a 10-person staff are worth billions of dollars,” Eryurek reportedly added.
Among the big five