Mobile content publisher Cascata secures 1st round funding, appointment of Archie Mohindra as COO
www.cascatagames.com
DATE: 15 June, 2005
LONDON - Today marks the relaunch of Cascata Ltd, mobile content and games developer and publisher following a change of management and an injection of finance by Move2Mobile Ltd, and two WirelessMatch Investors: an early stage wireless investment company and a wireless business angel.
Nigel Nicholas, Chief Executive Officer at Move2Mobile Limited says, "Cascata is in the right place at the right time. It has established itself as one of the leading mobile content publishers and is already producing content for a number of brands.
Nigel Nicholas commenting on the mobile entertainment markets, "All the forecasts indicate that mobile entertainment will be growing exponentially over the next 2 to 3 years; the demand is for more branded content; the methods of distributing content are increasing outside of the conventional mobile operator being the major source of supply. Before long retail outlets will devote as much shelf space and energy to selling mobile entertainment as they currently do to computer games and other computer content. I believe Cascata is well positioned to play its part"
Nigel Nicholas commenting on using WirelessMatch, "Without WirelessMatch we would not have been able to secure funding for Cascata so soon. It took the team at WirelessMatch less than six weeks to match Cascata to relevant investors, who subsequently participated financially."
Archie Mohindra commenting on his appointment as Chief Operating Officer, "I am excited being involved with Cascata. There are two real advantages that I see with Cascata. The first is its close links with an excellent selection of switched on, forward thinking rights' owners such as EMAP Active, Classic Comedy and Blake7. The second is that it is a route to rationalising consumer demand with rights' owners objectives, ensuring we do not and are not restricted to taking stock content, but are able to, cost effectively, develop what the consumer wants with the approval and input of rights owners, from the start."
Paul Voss, Group Licensing Director for Emap, commented "This is an extremely valuable brand development, encompassing a wide range of titles including Max Power, MCN, Golf World, Angling Times and Zoo. Over the past several years Emap has experienced significant revenue streams from this type of brand extension and we see Cascata accelerating this growth."
Archie believes "the time for companies such as Cascata is now, and it is on them to ensure they set the standards by which the industry sells and develops content and therefore must include the triumvirate views of rights' owner, developer and consumer, two of which, I am thrilled to say Cascata can offer clients with ease.
Ends
For further information please contact:
Steven Dotsch
Managing director
WirelessMatch Ltd - UK's Wireless Funding Network
tel: 020 8374 8718
About Cascata
Cascata was founded in February 2002 by Neil Wooding as a design company that designs, develops and licenses innovative concepts to create mobile gaming and technology solutions. The company works through a collaborative partnership network of talented individuals and small enterprises, enabling them to gain representation in the global marketplace. Cascata has a wealth of experience and specialist knowledge in wireless technology, graphic design, web technology management and brand strategy which ensures that fresh and exciting games and content are produced for handheld, mobile, interactive TV and PC platforms.
About Archie Mohindra
Archie has been involved in mobile product development since 2000 when he joined Orange, as UK Senior Music Manager, responsible for setting a strategic product development framework, selecting content partners and co-ordinating internal teams for delivering the Orange Music Proposition. He worked on many major Music events and successfully launched numerous mobile services both internally and externally for Orange.
Prior to this, Archie has spent time working in Cable & Satellite Television where he was responsible for content commissioning and channel distribution.
About Move2Mobile
Move2Mobile Ltd is the UK's foremost wireless business accelerator. Established in mid-2002, Move2Mobile provides services to businesses ranging from start-up entrepreneurs through to established companies that wish to accelerate and grow their business. The focus is on accelerating the growth of businesses and developing innovative ideas in the wireless sector. Move2Mobile executives have a collective experience of over 65 years at Senior Executive level, in companies from billion dollar multi national businesses through to entrepreneurial start-up businesses, and over 50 years within Telecoms and Hi-Tech industries. Move2Mobile have also engaged a network of trusted associates and formed a number of strategic partnerships that span established technology and development partners through to business support and sales teams for the telecoms and Hi-Tech sectors.
About WirelessMatch
WirelessMatch facilitates private equity investment in pre-screened early stage companies operating in the mobile and wireless applications, content and technology markets.
WirelessMatch investors have the possibility to invest alongside like-minded private and institutional investors often in a tax efficient manner.
WirelessMatch provides wireless related companies seeking finance between £25,000 and £1.5m with the opportunity to raise equity funding and leverage support from its investor network.
About EMAP
Emap Plc is one of UK's leading media companies whose purpose is to create 'must-have' entertainment and information which can be delivered to every home and business within defined communities.
Emap's business activities focus around three main areas:
- over 150 top selling consumer magazines in the UK, France and around the world,
- over 200 business to business events, magazines and conferences, many of them market leaders, and
- 19 UK local analogue radio stations, seven digital music TV channels and one of the biggest digital radio networks in the UK
Emap has a large portfolio of brands, many of which are number one or number two in their markets. It also has a strong competitive position within each of its businesses.
Emap Plc is a FTSE 100 company. In the most recent financial results for the year to 31 March 2004 Emap reported turnover of £1,050 million and an operating profit of £212 million.