Minority Stake Taken in Funplanet.com
NewMedia SPARK PLC
17 February 2000
NewMedia SPARK
invests SEK 12,000,000 for a minority stake
in Funplanet.com
NewMedia Spark plc ('SPARK2) announces that it has agreed
to invest SEK 12,000,000 (approximately £870,000) for a
minority stake in Funplanet.com ('Funplanet'). This will
be SPARK's first investment in Sweden, and its second in
the Nordic region. Funplanet, based in Stockholm, is
Sweden's number one entertainment site and qualifies as
one of Sweden's ten most visited websites. Funplanet
offers online games and entertainment which provide
sophisticated marketing solutions for its on-line
business clients enabling them to reach large numbers of
visitors with co-branded entertainment. The java games
are modular and portable and can therefore be supplied as
interactive content to all major ISPs and portals. The
company is exploring distribution of its products via
Interactive TV and mobile devices.
The company will use the funds to launch in the UK and
will work with Spark and Result Venture Knowledge on a
full European expansion later in the Spring. Jakob Kinde
of NewMedia Investors will take a seat on the board.
Result bring significant experience in the expansion
process having assisted a number of internet businesses
in their European expansions, including Dressmart and
Sportus. Funplanet's founders, Peter and Mikael Sandberg,
previously held senior positions at Bonnier Online (part
of the Bonnier Group which is Scandinavia's largest media
company) where they founded Funplanet in 1996.
Commenting on the investment Mike Whitaker, CEO of SPARK,
said:
'We are pleased to be investing in Funplanet, whose games
and entertainment content is already proving to be an
important marketing aid to a growing number of on-line
businesses. This is an innovative and compelling use of
the Web, and as a proven service in Sweden it has
excellent potential to be rolled out into other
geographical territories. We are presently investigating
a number of further investment opportunities in the
Scandinavian region.'
We are presently investigating a number of further
investments in the Nordic region, where we have developed
strong contacts and where we are impressed by the high
quality and technologically forward looking nature of the
investment opportunities available. The combination of
our strong UK presence and experience in financial
markets presents a compelling reason for such companies
to choose SPARK as an investment partner, and we look
forward to further strengthening our Nordic presence.'
Funplanet.com is the sixteenth investment by NewMedia
SPARK since its shares began trading on the Alternative
Investment Market on 28th October 1999. SPARK's present
portfolio (in which it has invested a total of
approximately £12m), comprises sharheoldings in Digital
Animations Group, Bridge4u, Linkguard, Watchmyprice,
Skillvest, Firebox, Crocus, Mergermarket, Synaptics,
Purple Voice, Travelstore, Rainbow Network, Clipserver,
and Wireless Commerce Limited. In addition, one
investment, easier! Plc, has been sold for a profit of
£2.75m. The present breakdown by category of SPARK's
investment portfolio is as follows:
Internet infrastructure software 5
B2B 5
Content 3
B2C 2
_________________________________________________________
For further information, please contact:
NewMedia SPARK
Michael Whitaker 0171 887 4510
Buchanan Communications
Tim Anderson / Lisa Baderoon 0171 466 5000
Peel, Hunt & Company Limited
David Davies 0171 418 8900
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