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WirelessDevNet.com Press Release
Siemens Mobile Acceleration Sells Its Stake in Chinese Game Developer And Magus-Soft to Mforma
Siemens Mobile Acceleration (SMAC), a leading international investor in the wireless sector, today announces the sale of its stake in the Chinese portfolio company Magus-Soft. Acquirer is the US-based mobile entertainment group Mforma. Magus-Soft is the number one developer and publisher of mobile gaming in China and has been a portfolio company of SMAC since July 2002.
SMAC's CEO, Dr. Dietrich Ulmer, views the deal as great success for all parties involved. "The transaction underlines the importance of the Chinese market for anyone involved in mobile entertainment. I am sure that Magus-Soft will profit greatly from Mforma's leading role and high reputation in this industry."
Since its founding in 2001, Magus-Soft has developed more than 80 J2ME (Java 2 Micro Edition) and BREW (Binary Runtime Environment for Wireless) entertainment applications and games. Their catalog of titles stretches across all gaming-genres and also includes premium branded titles as well as the first multi-player soccer game in China.
After receiving a first round of financing from SMAC in July 2002, the company was able to rapidly expand in the areas of embedded and downloadable mobile gaming. Today, Magus-Soft has nationwide service agreements to deliver content to China's leading operators and has received numerous awards for game design excellence. While their main market remains China, Magus-Soft deploys its products also in Europe, the US and Southeast Asia.
"Magus-Soft is a world-class developer and publisher and an extremely valuable partner for Mforma," said Daniel Kranzler, Mforma CEO. "They have developed a stellar catalog of content and a platform that supports multiple technologies and protocols. SMAC's early stage investment in Magus-Soft in 2002 is a credit to SMAC's vision that mobile gaming would be a major growth sector. Their support has enabled Magus-Soft to develop rapidly and become the leading developer of mobile games in China."
Mforma's investment is welcomed by Magus-Soft founder and CEO Lu Yong: "Mforma's commitment is proof that we have done a good job in securing a big piece of a fast-growing market by providing high quality content. We are very pleased to be working with Mforma and confident that the partnership brings us closer towards our dream of writing history in mobile entertainment."
MFORMA
MFORMA is a leading global provider of wireless entertainment content. MFORMA provides wireless operators and their customers with the world's best content and brands, and provides developers and brand owners with the shortest route to market. MFORMA's customers include more than 100 of the world's leading wireless carriers. In addition to the industry's most comprehensive catalog of Java, BREW, SMS, MMS, and WAP games, MFORMA also provides sports, lifestyle, and information services subscription products. MFORMA's carrier-grade platform manages the delivery of downloadable games and applications for some of the world's largest carriers. With MFORMA, wireless operators can choose to utilize any or all of the MFORMA resources-tools, platforms and/or content. MFORMA is headquartered in Bellevue, Washington, USA with facilities in Los Angeles, San Francisco, San Diego; Cambridge, England; Seoul, Korea, and Shanghai and Beijing, China. Please visit www.mforma.com.
Siemens Mobile Acceleration GmbH (SMAC)
SMAC is a wholly owned subsidiary of the Siemens AG. Siemens Mobile Acceleration fosters early stage start-ups that focus on wireless applications and technologies for mobile communication by providing funding and strategic counsel. Headquartered in Munich, Germany, Siemens Mobile Acceleration seeks investment opportunities in Europe, Asia and North America.
For more information on SMAC please visit www.siemensmobileacceleration.com
Siemens Communications
Siemens Communications is one of the largest players in the global telecommunications industry. Siemens is the only provider in the market that offers its customers a full-range portfolio, from devices for end users to complex network infrastructures for enterprises and carriers as well as related services. Siemens Communications is the world's innovation leader in convergent technologies, products and services for wireless, fixed and enterprise networks. It is the largest Group within Siemens and operates in more than 160 countries around the world. In fiscal 2003 (year-end September 30), its 60,000-strong workforce posted sales of about 17 billion euros.
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