SKY MobileMedia Closes $15 Million Series B Financing; Announces Former Ericsson Executive Ake Persson as Chairman of the Board of Directors.SAN DIEGO San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. -- SKY MobileMedia, Inc., a leading provider of mobile applications software platforms for the wireless handset industry, today announced that it has closed a $15 million Series B round of investment financing. Sid R. Bass Associates of Fort Worth, Texas Fort Worth is the fifth-largest city in the state of Texas, 18th-largest city in the United States[1], and voted one of "America’s Most Livable Communities. led the investment round. Enterprise Partners Venture Capital of La Jolla La Jolla (lə hoi`yə), on the Pacific Ocean, S Calif., an uninc. district within the confines of San Diego; founded 1869. The beautiful ocean beaches, in particular La Jolla shores and Black's Beach, and sea-washed caves attract visitors and , California, SKY's Series A lead investor, also participated in the Series B funding. With the close of Series B, SKY MobileMedia has raised over $21 million in funding. With the SKY-MAP(TM) mobile applications software platform in volume handset production and in use on wireless networks worldwide, SKY MobileMedia is entering an important new growth phase. SKY will use the new investment capital to support the rapidly growing number of SKY-MAP handset manufacturer customers, including significant expansion of global customer support, third-party partner programs, field applications engineering, and sales activities. In parallel, SKY is rapidly expanding its worldwide development engineering team to support the continuing evolution of the SKY-MAP software platform, SKY-MAP development tools, and SKY-RVP handset reference validation hardware platforms Each hardware platform, or CPU family, has a unique machine language. All software presented to the computer for execution must be in the binary coded machine language of that CPU. Following is a list of the major hardware platforms in existence today. See platform. . "Having established SKY-MAP as a proven, mass-production mobile software platform, and with the recent launch of our second generation SKY-MAP 2.0 platform, SKY is now poised to aggressively expand our customer base and overall share of the feature phone market," stated Naser Partovi, president and 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 SKY. "Handset manufacturers and wireless operators require software platforms -- like SKY-MAP -- which are open, portable, standards-compliant, and reduce time-to-market for high-volume handsets. This Series B equity funding Equity funding An investment consisting of a life insurance policy and a mutual fund. The insurance policy is paid by the collateral value of fund shares, giving the investor the advantages of insurance protection with the growth potential of a mutual fund. will better enable SKY to support our current customers, win new business with additional handset manufacturers, extend our customer base to converged multimedia device manufacturers, and accelerate the evolution of the SKY-MAP product line to further extend SKY's market leadership." "The market for wireless handsets and services, and the software platforms driving them, presents a unique and very exciting growth opportunity," stated Perse perse adj. Dark grayish blue or purple. [Middle English pers, from Old French, from Medieval Latin persus, back-formation from Latin Persicus, Persian, from Greek Faily, General Partner with Sid R. Bass Associates. "SKY MobileMedia understands this market need and has rapidly established SKY-MAP as a leading mobile software solution. As the company enters the next phase of corporate expansion, Sid R. Bass Associates is excited to work with SKY's management team to accelerate the winning SKY-MAP product strategy, expand market share, and ultimately achieve SKY's aggressive long-term business goals." Chairman of the Board Named SKY MobileMedia also announced today that Ake Persson, veteran of the telecommunications industry, has been named Chairman of SKY MobileMedia's board of directors. "I am pleased to join the SKY MobileMedia team as we begin this period of rapid growth," stated Mr. Persson. "New classes of connected multimedia devices are being introduced every day and the complexity of software for such devices is escalating. SKY provides the only standards-based, open, shrink-wrapped software Refers to store-bought software, implying a standard platform that is widely supported. platform on the market. I believe this significant differentiation will propel SKY to a leading position in the multimedia platform market." Mr. Persson comes to SKY MobileMedia with over 30 years of experience in the wireless and telecommunications industries. From 1999 until his retirement in February 2004, Mr. Persson was the President of Ericsson's 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. Systems Business Unit and President of Ericsson Wireless Communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. Inc. in San Diego. From 1995 to 1999, Mr. Persson was the Vice President for Marketing and Sales for Ericsson Radio Systems, encompassing all wireless activities of the global Ericsson organization. From 1970 to 1995 he served Ericsson in a number of different roles, including Vice President and General Manager of Ericsson's Mobile Voice and Data Systems from 1984 to 1989 and general Manager of Ericsson's Cellular Systems business from 1982-1984. Mr. Persson joins SKY MobileMedia's current board of directors which includes Naser Partovi, President and CEO of SKY MobileMedia, Jeffery Kang, Co-founder and CSO (Chief Security Officer) The person in charge of all staff members who are responsible for promulgating, enforcing and administering security policies for all systems within an enterprise or division. for SKY MobileMedia, Carl Eibl, Managing Director for Enterprise Partners Venture Capital, Perse Faily, General Partner with Sid R. Bass Associates, and Rick Kornfeld, President and CEO of Staccato Communications. About SKY MobileMedia SKY MobileMedia is a leading provider of mobile applications software platforms for the wireless handset industry. SKY's fully-integrated, standards-compliant SKY-MAP(TM) platform allows handset manufacturers to quickly develop exciting feature-phones and multimedia handsets while also enabling wireless operators to rapidly deploy compelling new high-ARPU data services. Headquartered in San Diego, California “San Diego” redirects here. For other uses, see San Diego (disambiguation). San Diego is a coastal Southern California city located in the southwestern corner of the continental United States. As of 2006, the city has a population of 1,256,951. , SKY has additional development centers in Europe, South Korea and India. For more information, visit www.skymobilemedia.com. About Sid R. Bass Associates Sid R. Bass Associates is a venture capital firm and value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. investor, providing capital and access to resources and industry contacts, to high growth early-stage and late stage companies. With $300 million in committed capital, the firm focuses its investments in the software, communications, wireless, security, storage, network infrastructure, media, and consumer and business services sectors. With a long term horizon, the firm partners with seasoned entrepreneurs to grow successful, growth businesses through all phases of a company's development. About Enterprise Partners Venture Capital Enterprise Partners was founded in 1985 and is currently investing its sixth fund. The firm has over $1 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. and provides capital and strategic guidance to early stage and emerging growth companies. Enterprise focuses its investments in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, in the networking and services, software, life sciences, semiconductors and computing sectors. For more information, visit www.epvc.com. |
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