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  • Mobile content service firm Motricity gets $50 mn investment from Carl Icahn

    Mobile content service firm Motricity gets $50 mn investment from Carl Icahn

    MUMBAI: The US based Motricity, which provides mobile content services and solutions has announced the completion of $50 million in equity funding from Carl Icahn, through an affiliated company.

    It has also appointed Brett Icahn, an investment analyst with Icahn Associates and affiliated companies, to the Motricity board of directors.

    Motricity chairman and CEO Ryan Wuerch says, “Carl has proven himself as one of the leading investors of all time, with an incredible ability to identify top performing companies and drive shareholder value. This investment bolsters our balance sheet and positions us to continue to aggressively grow the business and consolidate the industry.”

    Over the past year, Motricity’s business has expanded substantially, quadrupling its customer base to include some of the leading wireless operators and media and entertainment companies, including Cingular, Alltel, Sprint, Tracfone, MTV, BET, NBC, Universal Music Group, Warner Music Group, Turner and several others.

    icahn says, “Motricity has an excellent management team and leading technology. They are well positioned for dominance in mobile content, a sector for which we forecast strong growth in the coming years.”

    Motricity is provides mobile content services and solutions that enable consumers to receive the right content at the right time, every time. Its solutions create end user experiences and deliver mobile content offerings for partners such as MTV, BET, CBS, NBC, Turner, Cingular, Alltel, Sprint Nextel and Palm. Its mobile content delivery platform, Fuel, received the 2006 GSM Association Award for “Best Service Delivery Platform” and was also named 2005 Premium Mobile Content Platform of the Year by Frost and Sullivan.

  • The World Economic Forum names MobiTV as technology pioneer for the year

    The World Economic Forum names MobiTV as technology pioneer for the year

    MUMBAI: The World Economic Forum has announced 47 Technology Pioneers for 2007.

    MobiTV, which works in the area of mobile and broadband television and music services, has been selected.

    The Technology Pioneers were nominated by venture capital and technology companies. The final selection from 225 nominees was made by a panel of leading technology experts appointed by the World Economic Forum. Technology Pioneers 2007 are invited to attend the Annual Meeting of the World Economic Forum to be held in Davos, Switzerland from 24-28 January 2007.

    MobiTV is responsible for leading the convergence of television and music content across the mobile and personal computing markets. The service has more than one million subscribers and offers TV and digital radio channels from labels, networks and cable providers. MobiTV is available in the US through AT&T, Sprint, Cingular, Alltel. In the UK it is available through 3UK and Orange; in Canada through Bell, Rogers and Telus and in Latin America through América Móvil.

    Technology Pioneers are companies that have been identified as developing and applying highly transformational and innovative technologies in the areas of energy, biotechnology and health, and information technology. This year’s class of companies has been selected not only because of the cutting-edge work undertaken by these organizations, but also because their work has potential long-term impact on business and society.

    The World Economic Forum MD Peter Torreele says, “The competition to become a Technology Pioneer has been more intense than ever. It is evident that technology and innovation is playing a key role in the shifting power equation at a global level. Driving this shift is the tremendous amount of innovation taking place outside of traditionally hubs. The wide geographic spread of this year’s Technology Pioneers is a testament to this trend. We are pleased to welcome MobiTV to our Community of Technology Pioneers, and look forward to engaging them into the community of the World Economic Forum”.

    Another firm that was selected is Sling Media. The US consumer electronics company, offers digital lifestyle products. It offers Slingbox, a device that allows consumers to access their living room digital television from any location through Internet connected laptops, desktops, PDAs, and smartphones. The company also offers SlingPlayer Mobile, a software package, which allows Slingbox owners to watch and control their home TV from any network-enabled mobile phone or handheld computer.

    Measurement firm comScore Networks also features. comScore Networks started in 1999 with the vision to measure, analyze and report actual e-commerce transaction data across all websites. Harnessing its technological innovation and creativity, comScore has evolved far beyond this initial vision to become the leading provider of digital marketing intelligence.

    To be selected as a Technology Pioneer, a company must be involved in the development of life-changing technology innovation and have the potential for long-term impact on business and society. In addition, it must demonstrate visionary leadership, show all the signs of being a long-standing market leader – and its technology must be proven.