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WirelessDevNet.com Press Release
TOM Online Announces Cisco, Macromedia Acquire Strategic Stakes in Indiagames
HONG KONG, April 29 - TOM Online Inc. (Nasdaq: TOMO;
Hong Kong GEM stock code: 8282), China's leading wireless Internet company,
announced today that Cisco Systems Inc. and Macromedia Inc. will acquire
strategic share interests in Indiagames Ltd., a leading global publisher of
mobile games majority owned by TOM Online. This move enhances the India-based
mobile games publisher's position for global growth.
Cisco and Macromedia will pay a total of US$4 million for a combined stake
of 18.2% in Indiagames through subscription of new shares. In view of Cisco
and Macromedia's investments, TOM Online will not subscribe for new shares
worth US$4 million in the company as stated in its announcement on December
17, 2004.
Following Cisco and Macromedia's investments, TOM Online's share in
Indiagames will be diluted to 62.42% from 76.3%. Indiagames' original
shareholders and management, including its founder Vishal Gondal, will
continue to hold a 19.4% stake in the company.
"The strategic investments are beneficial to all parties," said Wang Lei
Lei, TOM Online Chief Executive Officer and Executive Director. "I have
confidence Cisco and Macromedia will bring significant value to Indiagames
going forward given their strength and leading position in their respective
business areas."
"I am delighted to have Cisco and Macromedia as investors in Indiagames,"
said Gondal, Chief Executive Officer and Director of Indiagames. "We now have
Chinese, Indian and American investors, all leaders in their respective
verticals. This combination is really very unique and will surely help
accelerate our global growth plans, keeping us on the cutting edge of mobile,
broadband and Internet technology. "
Cisco, the worldwide leader in networking for the Internet, is an
innovator in Internet Protocol (IP)-based networking technologies and works
closely with major telecom and wireless carriers around the world. Macromedia
is a major independent software company whose Flash technology is viewed as
one of the hottest wireless applications.
The Directors of Indiagames envision synergy coming from better visibility
to future technology developments related to Internet and wireless
applications, the investors' existing client network and relationships
globally, and their marketing expertise and resources. Indiagames will also
publish and support all its content on the Macromedia Flash Lite(TM) platform
which is already having a big share in Japan and is expanding worldwide.
The global wireless games market is expected to grow 50% per year in the
next three years, reaching US$8.4 billion in 2008, according to industry
estimates. Indiagames, the owner of one of the largest wireless content
development facilities in the world with more than 200 highly experienced
professionals, is well placed to benefit from that growth.
Founded in 1999, the company has distinguished itself as a high quality
and creative games developer and now counts top tier Hollywood studios,
handset manufacturers, and more than 100 distribution channels among its
partners around the world, including Orange, Verizon, Sprint, Singtel, Airtel
and Vodafone.
A global publisher with a strong reputation and track record, the company
also has successfully established diversified revenue streams from mobile
games publishing and third-party development. Indiagames has been profitable
for the past two years.
About TOM Online Inc.
TOM Online Inc. (Nasdaq: TOMO; HK GEM stock code: 8282) is a leading
wireless Internet company in China providing value-added multimedia products
and services. A premier online brand in China targeting the young and trendy
demographic, the company's primary business activities include wireless
Internet services and online advertising. The company offers an array of
products such as SMS, MMS, WAP, wireless interactive voice response services,
content channels, search and classified information, free and fee-based
advanced email and online games. As of December 31, 2004, TOM Online is the
only portal in China that enjoyed a top three ranking in every wireless
Internet service segment.
TOM Online is a subsidiary of TOM Group Limited ("TOM Group"), one of the
leading Chinese language media groups in the Greater China region. TOM Group's
diverse operations span five media sectors: the Internet (through TOM Online
Inc.), outdoor (through TOM Outdoor Media Group), publishing, sports and TV &
entertainment.
About Indiagames
Indiagames, founded by Vishal Gondal, the current CEO, in 1999, has
quickly grown to become one of the global leaders in mobile games publishing
business. With over 200 professionals based in Mumbai and an office in
Hollywood, Indiagames is primarily engaged in publishing and developing games
across various platforms like the Internet, PC, broadband, mobile phones,
PDAs, handheld gaming devices and consoles. Indiagames has a leading edge in
wireless games in various formats like Java(TM), BREW(TM), I-Mode(TM), Flash
Lite(TM) and Symbian(TM). As the No.1 gaming developer and publisher in India,
Indiagames controls a 60% share in India's game-related wireless value-added
services market.
Indiagames was the first to launch mobile games in India in Feb 2003. It
has established partnerships with all major mobile operators in India and over
100 channel partners globally. Major global distribution channels include
Vodafone, O2, T-Mobile, Orange, Verizon, Sprint, Singtel, Airtel, Tata, China
Mobile, Optus, Hutch, Amena, Telefonica, O2 and Wind. Although based in India,
the bulk of its sales this year came from Europe, Asia Pacific, United States,
Middle East and South Africa.
Indiagames is among the first to obtain branded licenses for mobile
products with the launch of one of its best selling mobile games, Spider-
Man(TM) Classic, in 2003. In the past 12 months Indiagames has licensed
several key brands including Bruce Lee(TM), Predator(TM), Buffy The Vampire
Slayer(TM), The Mummy(TM), Scorpion King(TM), Jurassic Park(TM) 1, Jurassic
Park(TM) 2, Jurassic Park(TM) 3, Garfield(TM), The Day After Tomorrow(TM), Spy
Kids(TM), Indian Idol, Singapore Idol, Malaysian Idol, Indonesian Idol and
Phantom(TM). Information about Indiagames can be found at
http://www.indiagames.com .
About Macromedia, Inc.
Macromedia, Inc. (Nasdaq: MACR) is an independent software company
providing software that empowers designers, developers and business users to
create and deliver effective user experiences on the Internet, fixed media and
wireless and digital devices. The Company's integrated family of technologies
enables the development of Internet solutions, including Websites, rich media
content and Internet applications across multiple platforms and devices.
Macromedia serves three markets: the Designer and Developer, the Business User
and the Consumer. Information about Macromedia can be found at
http://www.macromedia.com.
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