JAMDAT Mobile Closes $8 Million Series C Financing Round Led By QUALCOMM; Apax Partners, Intel Communications Fund, and Sun Microsystems Join Round.Business Editors LOS ANGELES--(BUSINESS WIRE)--Oct. 15, 2002 JAMDAT Mobile Inc., a leading publisher of entertainment applications and provider of enabling technologies for wireless, today announced the Company has closed an $8 million Series C round of financing. The investment, led by QUALCOMM Incorporated (Nasdaq: QCOM QCOM Qualcomm, Inc. (stock symbol) ), included Apax Partners, Inc. (formerly Patricof & Co. Ventures), Intel Communications Fund and Sun Microsystems, Inc. (NASDAQ: SUNW SUNW Sun Microsystems, Inc (former stock symbol; now JAVA) SUNW Stanford University Network Workstation (Sun Microsystems, Inc) ). JAMDAT Mobile will use the additional capital to continue development and distribution of its wireless entertainment applications, technologies and services. The company -- which has already announced co-publishing agreements with interactive entertainment powerhouses including Electronic Arts (Nasdaq: ERTS ERTS Electronic Arts, Inc. (stock symbol) ERTS Earth Resources Technology Satellite (US NASA) ERTS Embedded Real Time Systems ERTS Enhanced Remote Transit Shed ), Infogrames (Nasdaq: IFGM) and Activision, Inc. (Nasdaq: ATVI ATVI Albuquerque Technical Vocational Institute ) -- will also use the Series C funds to extend its portfolio of popular entertainment brands. "Securing financing in this difficult environment was a major success for JAMDAT, and we anticipate that this will be JAMDAT's final round of private equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. ," said Mitch Lasky, JAMDAT Mobile's Chairman & 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. . "QUALCOMM believes that compelling applications will drive the widespread adoption of wireless data services for mobile devices," said Prashant Kantak, senior director of business development for QUALCOMM. "With the early and credible results of BREW(TM)-based services being offered by Verizon Wireless and other carriers around the world, we believe that JAMDAT is well positioned with its excellent brand portfolio and gaming expertise, including multiplayer and community technologies." Lasky added, "This year was a truly exciting year for JAMDAT, as we launched applications for next generation platforms including QUALCOMM's BREW(TM) solution and Sun Microsystems' J2ME (Java 2 Platform, Micro Edition) A version of Java 2 for cellphones, PDAs and consumer appliances. J2ME uses the K Virtual Machine (KVM), a specialized Java interpreter for devices with limited memory. utilizing the Intel(R) Personal Internet Client Architecture. We look forward to expanding our leadership position in the growing global mobile entertainment market segment." About JAMDAT Mobile Inc. Los Angeles-based JAMDAT Mobile Inc. (www.jamdatmobile.com) is a leading provider of mobile entertainment products, services and enabling technologies to wireless carriers, independent developers and publishers around the world. Founded by interactive entertainment executives from Activision, Inc. (Nasdaq: ATVI) and backed by wireless technology leaders QUALCOMM Incorporated (NASDAQ: QCOM), Sun Microsystems (NASDAQ: SUNW) and Intel (NASDAQ: INTC INTC Intel (NASDAQ symbol) INTC Intercept INTC Interrupt Controller ), JAMDAT is at the forefront of the technological and creative evolution in wireless entertainment. JAMDAT's unique combination of creative and technological expertise has positioned the company as the preferred mobile entertainment partner for wireless carriers, infrastructure companies and independent developers. About QUALCOMM Incorporated QUALCOMM Incorporated (http://www.qualcomm.com) is a leader in developing and delivering innovative digital wireless communications products and services based on the Company's Code Division Multiple Access (CDMA (Code Division Multiple Access) A method for transmitting simultaneous signals over a shared portion of the spectrum. The foremost application of CDMA is the digital cellular phone technology from QUALCOMM that operates in the 800 MHz band and 1.9 GHz PCS band. ) digital technology. Headquartered in San Diego, Calif., QUALCOMM is included in the S&P 500 Index and traded on The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. (R) under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors QCOM. About Apax Partners, Inc. Apax Partners, Inc., one of the world's leading private equity investment groups, manages more than $11 billion on behalf of institutional investors worldwide. Its cross-border teams of more than 170 investment professionals in the US, Europe, Israel and Japan work together to identify the best investment opportunities in the following industry sectors: Information Technology, Telecommunications, Healthcare, Media, Financial Services, and Retail/Consumer. Funds advised by Apax pursue a balanced equity portfolio strategy, investing in companies at all stages of development from start-up to buy-out in amounts ranging from $3 million to $3 billion. About Intel Communications Fund The $500 million Intel Communications Fund invests in companies supporting Intel's, key programs and initiatives in voice and data communications, as well as wireless communications and computing efforts. The fund, which makes minority equity investments of typically less than $10 million, is focused on companies developing solutions based on CT Media(TM), Intel(R) Internet Exchange Architecture Internet Exchange Architecture (acronym: IXA) is a chip set and framework produced by Intel Corporation used by manufacturers to design customised network processors. Introduced in 1999, the first model was based on the StrongARM processor. , Intel(R) XScale(TM) Microarchitecture and Intel(R) Personal Internet Client Architecture. The fund, created in 1999, is managed and controlled by Intel. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion