Twistbox puts $19.5m in the war chest

News

Tim Green Sep 11 2007, 10:45am

Twistbox has secured $19.5m to add to the $12.75m it raised last September.

The US mobile entertainment giant says it will use the new funds to launch new products including Web2Mobile Storefronts, Play4Prizes and mobile advertising. It will also expand its D2C marketing efforts.

Twistbox Entertainment, which is the parent company of adult services specialist WAAT Media and games publisher Charismatix, has distribution across more than 100 mobile operators in over 40 countries. It provides games, WAP sites and mobile TV channels to more than 1.1 billion subscribers worldwide.

The new funding was led by ValueAct Capital SmallCap Partners, whose MD Jimmy Price will now join the Twistbox board.

He will be joined there by Graeme Ferguson, the former head of content at Vodafone Global who is also a board member of Picsel Technologies.

Jimmy Price said: “We have explored investments in many mobile content service providers…with their experienced management team and our strategic capital, we believe Twistbox is well positioned for significant growth organically and through acquisitions. We look forward to working actively with the management team and fellow board members to continue the positive momentum in the business.”