“My gaming adventure began with the iconic Duke Nukem 3D game and led to a place where together with the RemoteMyApp team we created a top-quality technology service that allows millions of players around the world to access their favorite games anytime, anywhere. We are proud to join the Intel team and together we will continue to create world-changing innovations,” says Andreas Hestbeck, CEO at RemoteMyApp.
Upon completion of the transaction, RemoteMyApp has become part of Intel.
“Gaming is more than just the future of entertainment: for millions it has already become an integral part of everyday life. Supporting RemoteMyApp in building a service that is an important component of this ecosystem was a real privilege. We are excited to be able to continue this journey with the team at Intel,” adds Simon Seefeldt, Chief Operations Officer at the company.
RemoteMyApp was established in 2014. It was co-founded by Red Sky, a Szczecin-based startup studio operating within the group headed by the Tar Heel Capital Pathfinder fund. The company was developed in a venture building model, in which the fund creates technology businesses from scratch with the potential for global development. Until the time of the transaction, Tar Heel Capital Pathfinder has remained the startup’s largest shareholder.
“We founded RemoteMyApp at a time when game streaming was not yet known and its potential was very limited technically. This transaction shows that when building new technological solutions, it is worth making bold decisions. We are very pleased, and we congratulate the RemoteMyApp team and wish them further success,” comments Michał Wrzołek, Senior Investment Director at Tar Heel Capital Pathfinder.
In 2016, the company’s development was boosted by the investment of the VC Internet Ventures fund from the MCI Capital portfolio. In 2020, Deutsche Telekom, which recapitalised RemoteMyApp through its strategic investment machine Telekom Innovation Pool, joined the ranks of investors.
“We are delighted to have been able to support the growth of RemoteMyApp on this unforgettable journey, which concludes with the strategic acquisition of the company by Intel Corporation. This is undoubtedly one of the greatest successes of early stage funds supported by the MCI Capital group and PFR” says Tomasz Czechowicz, President of MCI Capital SA.
The acquisition of RemoteMyApp by the international industry player is a unique transaction on the Polish startup and technology scene: over the past years, the market in Poland has recorded a steady increase in the number and value of investments, but significant exits from investments are still few and far between.
The exclusive advisor to the sellers in transaction matters was IEG – Investment Banking Group.
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Sylwia Duszyńska, PR & Marketing Officer