£1.4m Investment in Purple Technologies

NewMedia SPARK PLC 16 May 2000 NewMedia SPARK plc invests £1.4m in Purple Technologies, Leading Software Developer of Wireless Applications Purple Technologies to lead UK/Europe wireless games development with £5.4m venture funding from, NewMedia SPARK, Quester and Emerging Technologies NewMedia SPARK plc, the AIM-quoted technology and internet investment company, today announced that it has invested £1.4m in Purple Technologies Limited, the software developer specialising in wireless applications and a leader in the development of artificial intelligence engines. The investment forms part of a £5.4 million round of venture capital funding from NewMedia SPARK, Quester and Emerging Technologies. Michael Whitaker, CEO of NewMedia SPARK, is also investing. The new funding coincides with Purple Technologies' acquisition of Oxford Softworks, widely recognized as one of the world's leading developers of strategy games software. These significant steps will allow Purple Technologies to accelerate its growth and secure its position as one of the leading independent software designers for the wireless device industry. Gartner Group research indicates that in 2005, mobile telephones will be the most common client device used to access the Internet worldwide. Commenting on the investment, Andrew Carruthers COO of NewMedia SPARK plc, said: 'We are very pleased to be investing in a company which is clearly at the cutting edge of wireless applications development, particularly in the games arena. It is apparent that there is huge market potential for gaming on mobile devices and we hope to work with Purple Technologies - and our other portfolio companies in the wireless field - to realize this.' Julian Swallow, Purple Technologies' Chief Executive, said: 'Purple Technologies has secured funding from Quester, Purple's existing venture capital investor, New Media Spark, the technology investment specialist, and Emerging Technologies, a leading investor in mobile internet businesses. 'With the acquisition of Oxford Softworks and the expansion of our investor base, Purple Technologies is now well positioned to capitalise on the growth in the mobile internet and wireless industries,' added Julian Swallow. 'We will now be developing the group rapidly with a view to an IPO during the course of 2001'. Simon Acland, who heads Quester's investment team for Information and Communication Technologies and an existing Purple Technologies board member observed, 'This deal is a major milestone for Purple. We are delighted to be joined as shareholders by New Media Spark and Emerging Technologies and I am pleased that these specialist investors have recognised the same potential that we saw in the company.' __________________________________ For further information, please contact: Andrew Carruthers, COO, NewMedia SPARK Tel 0207 851 7777 Andrew@newmediainvest.com Tim Anderson, Director, Buchanan Communications Tel: 0207 466 5000 tima@buchanan.uk.com Gunnar Larsen Purple Techologies Gunnar.Larsen@purplesoft.com Voice: +44 (0)20 7255 9202 Notes for Editors About Purple Technologies Purple Technologies is one of Europe's leading independent software designers for the emergent wireless device industry. Focusing predominantly on the market for leisure and lifestyle applications, the Group develops and distributes client / server software solutions for handheld computers, smart phones and communicators. The Group also specifies, designs and develops wireless software technologies for leading wireless partners and blue-chip corporate customers. In addition, the Group designed and operates Go32.com, the leading web portal for wireless information devices powered by the EPOC operating system. Go32.com is sponsored by Symbian Limited, the developers of EPOC. Quester www.quester.co.uk New Media Spark www.newmediaspark.com
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