Leading internet portal announces deal with Personal Broadcaster to create new Asia Pacific brand
Oslo, Norway – March 6,, 2006 – The creation of a new Asia Pacific media company, N-Visio, was announced today by The Mobile Media Company, the world’s leading Personal Broadcaster (www.mobilemedia.com) providing unrivalled one-to-one personal entertainment to mobile communities. The formation of N-Visio is the result of globally recognised internet portal eXcite (Japan), backed by the Japanese industry giant Itochu, and The Mobile Media Company forming a joint venture, where The Mobile Media Company contribute certain Asia Pacific assets and Excite (Japan) provides a cash investment.
N-Visio (www.n-visio.com) is now the new brand name for Excel Mobile Investments (EBI). As a key investor in N-Visio, eXcite will hold 19% of the initial shares with a call option to increase its stake to 43%. The Mobile Media Company remains the largest shareholder in N-Visio, with the current Mobile Media Asia Pacific Management holding 32% of the initial shares. All existing Mobile Media Company Asia Pacific employees will be retained by the new company.
"This is a large opportunity for us,” says Karsten Hauge, CEO of The Mobile Media Company. “The investment of eXcite (Japan) delivers considerable new financial and business benefits and their extensive experience in the media and web space is an excellent match with Mobile Media’s expertise in mobilised content and services. We are pleased that eXcite (japan) has recognized the company’s Asia Pacific strengths, especially in China”
“By deploying technology and concepts from Mobile Media, we gain in N-Visio a new major customer which can localise our latest products and services to meet an expanded Asian strategy” , says Steinar Svalesen, Chief Operational Officer.
N-Visio will draw upon commercial and operational capabilities from both eXcite and The Mobile Media’s current service and product portfolios. These encompass television, internet and mobile content creation and distribution, mobile broadcasting, mobile marketing services and, notably, Mobile Media’s interactive television products.
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About Mobile Media
The Mobile Media Company is the leading producer and global distributor of branded, made-for-mobile entertainment, interactive TV formats and mobile marketing concepts. The Company currently engages with an audience of over 850 million mobile users throughout Europe, North America, South America and Asia Pacific, working in partnership with mobile network and portal operations, media companies, brand managers and agencies. Mobile Media is headquartered in Oslo, Norway, with offices and technology development centres in UK, Romania, Hong Kong, China and the US.
For more information, please visit: www.MobileMedia.com or send an e-mail to Info@MobileMedia.com.
About Excite Japan
Excite is one of the most recognised names on the Internet, and among the Internet's most personalised portals featuring a completely customisable start page. Excite features comprehensive search tools, a popular Webmail platform and robust content and resources from over 100 leading providers. Excite is a property of Ask Jeeves, Inc., a wholly-owned subsidiary of IAC/InterActiveCorp (NASDAQ: IACI).
For more info, please visit www.excite.co.jp
About N-Visio
n-visio provides interactive media solutions and content for broadcasters and mobile operators in Asia. Our solutions enable TV shows to become interactive by allowing viewers to use their mobile phones to directly participate through voting, quizzes and real-time dialogue. These services create opportunities for more targeted marketing and increased revenues for both TV stations and mobile operators.
For more information, please visit www.n-visio.com.
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