Crackdown, APB Developer Raises $50 Million

Independent and Scotland-based developer Realtime Worlds today confirmed that it has raised $50 million in funding for its current and future projects, a feat that required the company to sell off a minority of itself. nope

Founded by Grand Theft Auto creator David Jones, Realtime Worlds was responsible for the super-powered open world title Crackdown (X360). The company is currently working on All Points Bulletin (PC, X360).

Alternatively known as APB, the game is an Unreal Engine 3-powered massively multiplayer title that dynamically pits cops against criminals in a vast online city. Featuring extensive character customization and a number of missions, such as robbing an armored truck, the title is expected later this year.

WPP, Maverick Capital, and New Enterprise Associates were the investors named in today's announcement. WPP independently clarified that it had acquired a minority stake of Realtime Worlds for $8.1 million. Two members of NEA attained positions on the studio's board of directors after a $31 million investment in 2006.

Reports of the additional funding initially surfaced a few weeks ago, though no further details or confirmation were available at that time.