$3m Stake Taken in Wireless Commerce Limited

NewMedia SPARK PLC 14 February 2000 NewMedia SPARK invests $3m in Wireless Commerce Limited alongside Conventum NewMedia Spark plc ('SPARK') announces that it has agreed to invest $3 million for a minority stake in Wireless Commerce Limited ('WCL') (www.wcl.fi). WCL is a Finnish based company that has developed wireless commerce enabling technologies. Conventum Oyj, a leading Finnish investment bank will also invest a further $1 million. WCL was founded in January 1999 and has focused on developing software for wireless commerce. Working with Radiolinja, Microsoft and Alma Media it developed and launched www.etori.fi in September 1999. Etori is the first internet based auction site that enables customers to participate in auctions using their GSM telephones. The company's mobile commerce platform includes a variety of components including a dynamic pricing engine, personalised database agents and traffic management modules. The company has also developed platforms for electronic commerce using WAP and interactive television. WCL currently has 25 employees based in Helsinki, Oulu and London . The experienced management team have a strong background in IT and wireless communications and have previously held positions at ICL, Electrobit, Oracle, Nokia and TietoEnator. In addition the Board includes Professor Dr Erkko Autio of Helsinki University of Technology and London Business School, a specialist in technology based venturing. Commenting on the investment Michael Whitaker, CEO of SPARK, said: 'WCL is SPARK's first investment in Scandinavia and the wireless sector. We believe the company is at the forefront of developing mobile commerce enabling technologies and our investment will allow the company to scale its development plans and start the roll out of its platform. We expect the wireless commerce sector to grow exponentially over the next few years and with global agreements on standards and protocols we expect the impact of wireless commerce to hit virtually all areas of economy. WCL has a highly credible management and development team and its location on the Helsinki University of Technology campus and Oulu gives it access to some of the world's most talented wireless developers. SPARK firmly believes that pervasive computing and mobile commerce will be exciting areas of growth and we will seek to be at the leading edge of these developments' Commenting on the investment Nalle Kivimaki, CEO of WCL said; ' We welcome NewMedia SPARK as an investor in our vision to be a leading provider of enabling technologies for the wireless marketplace. We have an operational platform that can be used with current GSM technologies and are continually developing technologies for the future. We expect NewMedia SPARK to contribute significant strategic and commercial value to our plans and hope to develop further commercial and financial relationships in the near future. ' Notes to editors: WCL is the fifteenth investment by SPARK since its shares began trading on the Alternative Investment Market on 28th October 1999. Its other investments have been in Digital Animations Group plc, Bridge4u, Linkguard, Easier!, Skillvest, Hotbox, Crocus, WatchMyPrice, Synaptic Systems, Purple Voice, Merger Market, Travelstore, Rainbow Network and Clipserver. SPARK firmly believes in working closely with its investee companies and hopes to leverage synergies between each investment and with SPARK's networks to rapidly develop these businesses. For further information: Mike Whitaker / Jay Patel : NewMedia SPARK Tel No: + 44 171 851 7777 Nalle Kivamaki : Wireless Commerce Limited Tel No: + 358 50 1469 Jyri Merivirta : Conventum Tel No: + 358 9 54 993632 Lisa Baderoon / Tim Anderson : Buchanan Communications Tel No: + 44 171 466 5000
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