September 11th, 2007 by Arjan Olsder Posted in Companies & M&A | No Comments »
Twistbox Entertainment announced to have received in total $ 19.5 million in funding led by an affiliate of ValueAct Capital and several other strategic investors.
“The capital will be used to drive the launch of our new products that include Web2Mobile Storefronts, Play4Prizes, and Mobile Advertising, stated Ian Aaron, Twistbox CEO. We will also be expanding our direct-to-consumer marketing efforts to take advantage of our rapidly growing traffic and subscriber base”. “Our direct agreements with major mobile operators in over 40 countries, category-leading content partners and globally deployed WAP, mobileTV and games platforms have positioned us this year for substantial growth”.
“We have explored investments in many mobile content service providers. Our diligence indicates that Twistbox has built a unique approach as a category leader in its late night and games businesses”, stated Jimmy Price, a Managing Director at ValueAct SmallCap Partners. Price, who will join the Twistbox board, went on to say that, “with their experienced management team and our strategic capital, we believe the Company is well positioned for significant growth organically and through acquisitions. We look forward to working actively with the management team and fellow board members to continue the positive momentum in the business.”
“I am also pleased to announce that Graeme Ferguson has joined the Twistbox Board”, stated Mr. Aaron. “Formerly the head of programming for Vodafone Global, Graeme has been known throughout the entertainment and mobile industries as a leader and pioneer in mobile content”. “As we continue to diversify and expand our offerings, we are fortunate to have on our board someone with such deep industry relationships and mobile experience as Graeme”.
“I have a great deal of respect for the Company and its industry-leading position they have built over the years”, stated Graeme Ferguson. I look forward to working closely with the executive team to leverage their global footprint, great technology and leading brands to further expand the business”.
