Codeonline Announces New Strategic Investors; Bertelsmann Capital Ventures, AOL Time Warner Ventures and Motorola are Backing Leading Mobile Gaming Company.Business Editors HELSINKI, Finland--(BUSINESS WIRE)--May 13, 2002 Codeonline, a leading European mobile gaming and entertainment company, today announced investments from Bertelsmann Capital Ventures, AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. Time Warner Ventures and Motorola Inc., through Motorola Ventures, its global venture capital arm. Motorola, who had already taken an equity stake earlier this year, increased its shareholding. Codeonline provides interactive mobile games to over 250 million mobile users worldwide with the help of Motorola's global sales and marketing network leveraging major brands like Who Wants To Be A Millionaire?(TM), Trivial Pursuit Trivial Pursuit is a board game where progress is determined by a player's ability to answer general knowledge, and popular culture questions. The game was made in 1979 by Scott Abbott, a sports editor for the Canadian Press, and Chris Haney, of Welland, Ontario, a photo (TM), Zobmondo(TM) and Subbuteo(TM). The company generated more than 50 million paid gaming transactions in 2001, placing it firmly at the top of this emerging market. Recently Codeonline extended its product offering by the acquisition of Springtoys, one of the leading European mobile game developer. "Our new strategic investors Bertelsmann Capital Ventures and AOL Time Warner Ventures strengthen Codeonline's financial base, and enable us to continue our success in the wireless entertainment marketplace. Our existing shareholders are excited about Bertelsmann and AOL Time Warner Ventures joining the investor base, as strong industry networks and financial resources are of key importance in this new emerging market", says Maija Hamalainen, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Codeonline. "This relationship will further foster Codeonline's leading position in the mobile entertainment industry. Bertelsmann Capital Ventures views this investment as an important element of Bertelsmann's mobile strategy aimed at leveraging existing content and customer relationships in the mobile arena ", says Jan Kantowsky, Executive Vice President, Bertelsmann Capital. Len Leader, President of AOL Time Warner Ventures said, "Codeonline has a great platform for online wireless games and promotions and is well positioned to extend its leadership in this growing market." "We believe the investments by Bertelsmann and AOL Time Warner, in addition with our own, will help position Codeonline to work with major corporate partners in bringing compelling new products to the wireless entertainment market and to thereby extend its leadership position in this dynamic market" says Jim O'Connor Jim O'Connor is an American actor and former host of the show The Secret Life Of.... Jim O' Connor first appeared on the Food Network as the host of "All-American Festivals". He replaced Tyler Florence as host. of Motorola Ventures. About Codeonline Codeonline is the premier provider of complete mobile entertainment services. Based in Finland, the company designs, develops and markets ready-to-play interactive entertainment services for all types of mobile devices and technologies. Codeonline games are currently available across more than 40 operators in 30 countries, making them the most widely available mobile games in the world. Founded in 1998, the company is headquartered in Finland, with offices in the UK, Germany, the US and Japan. Investors in Codeonline include Bertelsmann Capital Ventures, AOL Times Warner Ventures, Wellington Partners, Spinno-Seed, Shamrock shamrock, a plant with leaves composed of three leaflets. According to legend it was used by St. Patrick in explaining the doctrine of the Trinity; it is now used as the emblem of Ireland. An artificial or real shamrock leaf is customarily worn on St. Patrick's Day. Capital and Eqvitec Partners. For more information, please visit www.codeonline.com. About Bertelsmann Capital Ventures Bertelsmann AG Bertelsmann AG German media company. Beginning as a religious printer and publisher in 1835, the company grew steadily over the next century. Though virtually destroyed by Allied bombing in 1945, it recovered quickly after World War II. is the world's most international media corporation with 80.000 employees, operating in 55 countries and annual revenues of EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 20 billion (2000/2001). Bertelsmann Capital Ventures (BCV BCV Banco Central de Venezuela BCV Banque Cantonale Vaudoise BCV Bovine Coronavirus BCV Business Continuance Volumes (EMC Technology) BCV Beach Club Villas (Disney resort) BCV Battle Command Vehicle ) is the exclusive corporate venture unit of Bertelsmann. As the sole venturing unit within Bertelsmann, our objective is to invest in emerging companies that offer high growth opportunities within the context of expanding and complementing Bertelsmann's strategic reach. For more information, please visit www.bertelsmanncapitalventures.com About Motorola Ventures Motorola, Inc. (NYSE NYSE See: New York Stock Exchange : MOT (OpenView Managed Object Toolkit) An OpenView toolkit from HP for developing network management applications based on CMIS. The toolkit contains library routines that handle the transmission and receipt of CMIS requests and responses. ) is a global leader in providing integrated communications solutions and embedded Inserted into. See embedded system. electronic solutions. Sales in 2001 were $30 billion. Motorola Ventures (MV) is the global, strategic venture capital investment arm of Motorola, Inc. MV actively invests at early stages in developing companies of strategic value to Motorola in order to accelerate access to new technologies, new markets, and new talent. For more information about Motorola, please visit the web site at www.motorola.com |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion