DIGITAL BRIDGES SECURES £10 MILLION TO EXTEND LEAD IN GLOBAL WIRELESS ENTERAINMENT
Digital Bridges Ltd, the leading provider of interactive entertainment for the wireless world, announced today a £10 million investment from Apax Partners Funds and Argo Global Capital, two of the most active investors in the wireless internet space.
The company, founded in 1998 by Scottish entrepreneur Kevin Bradshaw, is set to become the world leader in the delivery and development of interactive entertainment to wireless phone users. Digital Bridges already offers 18 live multi-player games on 9 different wireless devices in 7 different languages, and is working with multiple mobile operators around the world.
Apax Partners Director Stephen Grabiner said, The company offers the best platform for the delivery of wireless entertainment to network operators and a route to the mobile market for content developers and media property owners.
The new investment will allow the company to accelerate its global expansion. Digital Bridges already has strategic partnerships with mobile operators including One2One and Vodafone in the UK, France Telecom Mobiles, Omnitel in Italy, Telfort in The Netherlands, Orange Switzerland, Halebop and Mobyson in Scandinavia and ClearNET in North America, Globetel in The Philippines, and World Online in South Africa.
The company already has partnerships established with leading wireless content developers to enable distribution of services via mobile operator portals. The company, based in Fife (Scotland), distributes entertainment services using the content delivery platform, UNITY.
Games in development include Wireless Pets, a Tamagotchistyle virtual pet. Players will be able to choose from a number of pets, ranging from cats to aliens, and will then be expected to care for them over their phone. If they dont, their pet will whine and pine finally be taken away by the Society for the Protection of Wireless Pets.
Alan MacIntosh, Partner at Argo Global Capital, said; Mobile entertainment is becoming a highly attractive market for mobile phone operators. In Japan, where wireless data services are used by more than 10 million people, about half of all the service revenues are entertainment related. Digital Bridges has proven that its open technology platform combined with its compelling wireless content helps mobile operators win in this explosive new market.
Kevin Bradshaw said, we are delighted to have Apax Partners Funds and Argo Global Capital on board. Their capital and strategic support will allow us to rapidly secure the position of global brand leader for wireless entertainment.
Stephen Grabiner of Apax Partners and Alan MacIntosh of Argo Global Capital have joined the board of Digital Bridges as directors.
Notes to Editors:
Dunfermline (Scotland) based Digital Bridges was founded in 1998 and is today the market leader in developing innovative entertainment channels for wireless device users. The company has several major assets in this medium: delivery technology, distribution channels, and publishing and development capability.
Digital Bridges announced on 6th September a partnership with Rage, the computer games publisher and developer, to provide interactive content for Digital Bridges interactive entertainment channel, wireless games.com.
For more information visit www.digitalbridges.com
Apax Partners is one of the worlds leading private equity investment groups. Funds advised by the firm pursue a balanced equity portfolio strategy, investing in companies at all stages of development from start-up to buy-out. Apax Partners focuses primarily on seven industry sectors Media, Information Technology, Internet, Telecommunications, Retail & Consumer Products, Healthcare, and Financial Services.
Apax Partners has a team of over 150 private equity investment professionals in offices across Europe, the USA, Israel and Japan. Founded in 1972, Apax Partners now manages and advises over (Euro) 7 billion on behalf of leading institutional investors around the world.
For more information, visit: www.apax.com
Argo Global Capital
Argo Global Capital, founded in 1997 and with over US$400 million under management, is the foremost international venture capital firm dedicated to the wireless industry and the convergence of wireless and the Internet. Argos two funds, GSM Capital L.P. and Argo II The Wireless Internet Fund L.P have made over 30 investments in the wireless sector in Europe, North America and Asia from its offices in Boston, Montreal and Hong Kong. Major wireless operators around the world including Deutsche Telekom, ESAT Telecom, France Telecom, Microcell Telecommunications, Voice Stream, Singapore Telecom, TIW and SmarTone, have contributed capital and ongoing support to Argos funds and its portfolio companies.
For more information, visit http://gsmcapital.com
For further information, please contact:
Digital Bridges Ltd
Brian Baglow, PR Manager
Digital Bridges Tel: +44 1383 723 234
Apax Partners & Co
Siobhan Loftus, Director of Marketing
Mobile 07771 943 971
Tel: +44 20 7872 6495
E-mail: [email protected]