SORRENT obtient 20 millions $ dans un financement conduit par BA Venture Partners. La société américaine leader des loisirs mobiles annonce son expansion en Asie, Europe et Amérique du Nord
Presse Economique / High-TEch
SAN MATEO, Calif.--(BUSINESS WIRE)--July 29, 2004--Sorrent, Inc., société leader dans la création et la distribution de loisirs mobiles, a annoncé aujourd'hui avoir obtenu 20 millions $ dans un financement Série C conduit par BA Venture Partners.
New Enterprise Associates (NEA), Globespan Capital Partners et Sienna Ventures, les investisseurs actuels de Sorrent, participent à l'étape de financement de BA Ventures.
Business Editors/High-Tech Writers
SAN MATEO, Calif.--(BUSINESS WIRE)--July 29, 2004--Sorrent, Inc.,
a leading creator and global publisher of mobile entertainment, today
announced that it has raised $20 million in Series C financing led by
BA Venture Partners. Sorrent's current investors New Enterprise
Associates (NEA), Globespan Capital Partners and Sienna Ventures join
BA Ventures in the round.
Sharon Wienbar, a director at BA Venture Partners, will join Sorrent's board of directors. Sorrent, recognized as one of the top publishers in the high growth mobile entertainment
market, plans to use the money to expand its global reach and
distribution.
"Mobile entertainment is not only one of the fastest growing
categories in telecommunications, it is an exploding sector of the
more than $20 billion global video game market," said Wienbar.
"Sorrent has executed aggressively against this market opportunity and
is well-positioned to become a leading mobile entertainment brand
worldwide."
In the past six months, Sorrent has achieved significant
milestones and been recognized for leadership in three key areas:
-- Licensing - Sorrent secured the mobile rights to three of
Atari's intellectual properties, including the worldwide
mobile rights to DRIV3R. The mobile game launched worldwide
simultaneously with the console games in late June as part of
a global marketing campaign. Sorrent has also recently
expanded its successful relationship with FOX Sports
Interactive Media and secured two licenses from Viacom,
including the new teen brand, everGirl.
-- Personnel - Sorrent has made key management hires in the U.S.,
including new heads of sales, marketing and production.
-- Distribution - Sorrent has closed several direct carrier
relationships in Asia and Europe and is a premier publisher
with all U.S. carriers.
"This round can be seen as a vote of confidence in both Sorrent
and the industry from some of the nation's most sophisticated
investors," said Greg Ballard, president and CEO of Sorrent. "We are
now recognized as a leading player in mobile entertainment in the
U.S., and this additional financing will allow us to extend that
leadership elsewhere in the world."
In a related release, Sorrent also announced today it has signed a
direct publishing agreement with SK Telecom, Korea's leading provider
of information and telecommunications services.
About Sorrent, Inc.
Sorrent is a leading creator and global publisher of wireless
entertainment. Sorrent's critically-acclaimed content features single
and multiplayer games, based on original and licensed properties,
including an award-winning suite of FOX Sports titles. Sorrent has
developed a proprietary technology infrastructure that delivers
graphically rich, fast-paced mobile games on more than 100 Java and
BREW-enabled handsets. With offices in San Mateo, California and
London, England, the company's extensive distribution network includes
all of the U.S. wireless carriers, as well as some of the world's
largest carriers around the world. Founded in 2001, Sorrent has
attracted top tier venture capital firms including NEA, BA Venture
Partners, Sienna Ventures, Softbank Capital Partners and Globespan
Capital Partners. For more information, visit www.sorrent.com.
About BA Venture Partners
BA Venture Partners, a venture capital partnership, leads start-up
to expansion stage investments in networking, semiconductor, software,
medical technology and biotechnology companies. The firm closed BA
Venture Partners VI, a $500 million fund, in 2000. BA Venture
Partners' sole limited partner is Bank of America. Visit their website
at www.BAVenturePartners.com.
Sorrent, Inc. is a trademark of Sorrent, Inc. All other trademarks
are the property of their respective owners. DRIV3R under license from
Atari, Inc.
2004 Atari, Inc. All rights reserved.
CONTACT:
Alta Public Relations
Nicole Kennedy, 415-503-3922
nicole@altapr.com
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