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SPECTRUM HOLOBYTE RECEIVES $4 MILLION IN FUNDING; COMPANY WILL LEVERAGE SIMULATION TECHNOLOGY IN INTERACTIVE ENTERTAINMENT MARKET

 SPECTRUM HOLOBYTE RECEIVES $4 MILLION IN FUNDING; COMPANY WILL LEVERAGE SIMULATION TECHNOLOGY IN INTERACTIVE ENTERTAINMENT MARKET
 ALAMEDA, Calif., Sept. 24 /PRNewswire/ -- Spectrum HoloByte Inc., formerly known as Sphere Inc. today announced it has closed a $4 million round in equity funding. The funds will be used to support marketing, sales and product development in the interactive entertainment market, as well as to purchase shares formerly held by SWICO, Sphere's parent company. SWICO, a charitable trust, has severed all ties with the Robert Maxwell family and has cooperated in the completion of this transaction. The investment group, led by Kleiner Perkins Caufield and Byers, includes Integral Partners, AT&T, Stanford University, James Clark and William Berkman -- all of whom have a special interest in developing the interactive entertainment market.
 "Spectrum HoloByte has the technology and the vision to become a leader in the interactive entertainment industry," said Vinod Khosla, general partner of Kleiner Perkins Caufield and Byers. "We see tremendous opportunity for this industry and feel Spectrum HoloByte is in a position to be the leading application developer in this emerging market."
 Spectrum HoloByte, a developer and manufacturer of interactive computer simulation and video games software, is best known for its products Falcon(R), the popular F-16 flight simulator, and Tetris(R), the famous game of falling blocks. The company has a long-term agreement with Edison Brothers of St. Louis to develop software for virtuality reality technology for consumer use. Virtual reality is a computer-generated environment that simulates the real world in a way that users can immerse themselves in this artificial environment and interact with it as if it were real. Most recently, the company entered into an agreement with Paramount Pictures which provides Spectrum HoloByte the exclusive license to produce video games using the name and characters from "Star Trek: The Next Generation" television series.
 "This financing positions the company to work with our new partners in bringing products and technologies to the industry," said Gilman Louie, president and chief executive officer of Spectrum HoloByte. "We see interactive entertainment encompassing many technologies and applications, including the consumer electronics, communications, entertainment and computer industries. Spectrum HoloByte is known for its realistic simulation technology -- one of the most critical technologies in interactive entertainment. Our goal is to lead the development of the interactive entertainment market by leveraging our technology and expertise with key industry alliances."
 Spectrum HoloByte, based in Alameda, is a privately held company that develops and publishes interactive simulation and action- strategy software for the consumer market. Sales revenues for the 1991 calendar year were $9.2 million.
 -0- 9/24/92
 /CONTACT: Gilman Louie, president and CEO, or Tom Byron of Spectrum HoloByte, 510-522-3584; or Kim Carsten, 415-354-4434, or Karen Kang, 415-354-4432, both of Regis McKenna for Spectrum HoloByte/ CO: Spectrum HoloByte Inc. ST: California IN: CPR SU:


AL-KJ -- SJ003 -- 3304 09/24/92 17:01 EDT
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Publication:PR Newswire
Date:Sep 24, 1992
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