U.K.’s Frontier Developments rises 21% in first day on London’s AIM stock market

Above: Frontier's Elite: Dangerous game

Image Credit: Frontier Developments

Frontier Developments debuted on London’s AIM stock exchange for smaller companies yesterday, with shares closing up 21 percent.

David Braben, the co-creator of the Elite sci-fi game series, founded Frontier in 1994. The company’s Cobra technology enables the creation of games that run across platforms including PCs, tablets, smartphones, and game consoles. Expanding Cobra is the main reason the company raised £4 million, or $6 million, by issuing 3.17 million new ordinary shares. The company hopes that the technology will prove to be disruptive in an era where some expect cross-platform games to rule. Cobra is expected to be licensed to third parties in 2014, shortly after the launch of the Elite: Dangerous game [above].

Frontier’s games include RollerCoaster Tycoon 3, LostWinds, Kinectimals, Kinect Disneyland Adventures, and Coaster Crazy games. Frontier’s market value is £39 million, or $59 million. The Cambridge, England company has $10.8 million in cash.

Frontier has been working on Cobra tools and technology since 1988. It allows code developed on the PC to be compiled and run on consoles and other platforms. The current engine is the fourth generation of the technology. The latest version includes cloud-based analytics for data-driven games.

Mobile developer or publisher? VentureBeat is studying mobile marketing automation. Fill out our 5-minute survey, and we'll share the data with you.

GamesBeat is your source for gaming news and reviews. But it's also home to the best articles from gamers, developers, and other folks outside of the traditional press. Register or log in to join our community of writers. You can even make a few bucks publishing stories here! Learn more.

You are now an esteemed member of the GamesBeat community. That means you can comment on stories or post your own to GB Unfiltered (look for the "New Post" link by mousing over your name in the red bar up top). But first, why don't you fill out your via your ?

About GamesBeat