Ericsson invests in Popwire, focused on entertainment broadcasting
Ericsson invests in Popwire, focused on entertainment broadcasting Today, Ericsson announced that it has taken a 15 percent stake in media and technology company Popwire, which produces music-related entertainment content and broadcasts it over the Internet. The investment will enable Popwire to develop technology, products, applications and services for the broadcast of entertainment content, such as music and live events, over broadband and wireless networks, including GPRS and 3G. The investment is part of Ericsson's venture operation in the Business Innovation unit. "Entertainment is set to be one of the most popular broadband and mobile Internet applications, with streaming of music and other content over 3G networks bringing 'instant media' to mobile users," said Håkan Österberg, Vice President, Content Aggregation, at Ericsson Business Innovation. "The mobile Internet will enable the transmission of live and recorded content, including music and video, from anywhere and at any time to reach a global audience." In September, Ericsson and Popwire together demonstrated a unique solution for live video broadcast over 3G networks and the Internet. The investment in Popwire is being made by Ericsson Business Innovation, the innovation development company set up by Ericsson, to further develop the relationship between the two companies. "Ericsson's investment in Popwire will support us in creating turnkey 3G broadcast solutions for media companies," said Anders Andersson, CEO of Popwire. "These will make broadcasting less costly and resource- intensive, for example no satellite up-link will be required for live transmissions, and give the mobile user entertainment on-demand. Ericsson is the leading communications supplier, combining innovation in mobility and Internet in creating the new era of mobile Internet. Ericsson provides total solutions covering everything from systems and applications to mobile phones and other communications tools. With more than 100,000 employees in 140 countries, Ericsson simplifies communications for customers all over the world. Read more at http://www.ericsson.com/pressroom FOR FURTHER INFORMATION, PLEASE CONTACT Bengt Larsson, PR Manager, Ericsson Business Innovation Phone: +46 8 719 25 29, E-mail: firstname.lastname@example.org Ragnar Larsson, Investment Manager, Ericsson Business Innovation Phone: +46 8 404 78 69, E-mail: email@example.com Anders Andersson, CEO, Popwire Phone: +46 708 34 16 10, +46 8 652 80 60 Henrik Kolga, Corporate Communications Director, Popwire Phone: + 46 733 254 428, +46 8 652 80 60 About Popwire The Popwire Group consists of three business areas - Popwire Music, Popwire Media and Popwire Technology. The core business concept is the production and distribution of entertainment content. Popwire Music acts as a Pop Star generator giving artists the opportunity to achieve success and allowing the music industry to acquire and launch new stars with a proven track record. Popwire Media is a content producer and distributor, providing Site-, TV-, Radio- and Magazine content to various major portals. Popwire Technology develops IP based applications and broadcasting solutions for the Popwire Group, as well as external partners. The focus is on creating streaming media solutions for the Internet and the third generation of mobile communication. Popwire syndicates content to several major portals and has strategic partnerships with leading technology companies. Popwire has 45 employees, and has offices in London, New York, Stockholm, Tokyo and Madrid. About Ericsson Business Innovation Ericsson Business Innovation AB was set up in July 2000 to develop new ideas from entrepreneurs. The company has already invested in more than a dozen companies, including Mediatude (which specialises in targeted mobile marketing services), Wireless Car AB (a joint venture with Volvo and Telia), Terraplay (systems for high-speed multimedia Internet gaming) and Connect Things Inc. (bar code technology for the Internet).