London, 2 September, 2004: Gizmondo Europe Ltd, subsidiary of Jacksonville, Florida-based, Tiger Telematics Inc (TGTL) and Tiger, announced today the appointment of Daniels & Associates as their exclusive investment banker.
The engagement covers a broad range of strategic financial services and the identification and facilitation of acquisitions and mergers, including but not limited to gaming systems, gaming software applications and development firms.
Based in New York and headquartered in Denver, with worldwide coverage, Daniels & Associates is a leading investment bank focused exclusively on the cable, telecommunications, media and technology industries..
"We're very pleased to welcome Daniels & Associates aboard," says Michael Carrender, CEO of Tiger Telematics. "Our choice of an investment banker was motivated by knowledge about our industry, an outstanding client network and proven deal-making expertise."
John Duong, Assistant Vice President, Daniels & Associates, says: "As a leader in financial services to the media, Internet and telecommunications industries, Daniels can be a catalyst in helping Tiger Telematics and Gizmondo achieve their business aims. Our team is ready to help with mergers & acquisitions, corporate finance and financial advisory services, and to ensure that Tiger Telematics and Gizmondo capitalise on strategic opportunities within the mobile sector in key areas around the world."
The timing of the appointment comes ahead of Gizmondo's launch in the UK in the fourth quarter this year. The mobile gaming device will then be launched in the USA in the first quarter 2005.
The Gizmondo, powered by a Microsoft Windows CE.net platform, boasts a 2.8-inch TFT colour screen with a Samsung ARM9 400Mhz processor and incorporates a 64-bit graphics accelerator. It provides cutting-edge gaming, multimedia messaging, an MP3 music player, Mpeg4 movie playing capability, a digital camera, and a GPRS network link to allow wide-area network gaming. Additionally, it contains a GPS chip for location based services, is equipped with Bluetooth for use in multi-player gaming and accepts MMC card accessories.
One feature unique to Gizmondo game play is the GPS function that incorporates a player's physical location into the game itself, creating a unique virtual gaming world. Two games in production at a wholly owned subsidiary developer, Indie Studios, exclusively for Gizmondo, are 'Colors', a gang warfare game enabling players to battle for supremacy of their designated environment and 'City', a short-time game providing first-class entertainment for Gizmondo gamers in limited time situations. Both utilise Gizmondo's GPS-capabilities and messaging over GPRS.
About Tiger Telematics and Gizmondo
Gizmondo Europe Ltd. is an owned subsidiary of Tiger Telematics Inc (TGTL) and is the maker of Gizmondo, a next-generation mobile entertainment device. Set to launch in 2004, the gaming device includes built-in music, video, messaging and picture functions and GPS.
Tiger is a designer, developer and marketer of mobile telematics systems and services that combine global GPS functions and voice recognition technology to locate and track vehicles and people down to street level in countries throughout the world. The systems are designed to operate on GPS and are currently being marketed to GSM current and potential subscribers, primarily by the company's United Kingdom based subsidiaries.
About Daniels & Associates
Daniels & Associates, L.P. is a leader in financial services to the cable, telecommunications, media and technology industries worldwide, assisting clients with mergers & acquisitions, private equity & debt financings, and financial advisory engagements. Daniels is a major force in the U.S. mergers & acquisitions market with more than $98 billion in total transactions.
Daniels' combination of specific market expertise and broad cross-market knowledge has earned the firm a distinguished reputation in the highly competitive investment banking business. Its technical expertise, market knowledge and worldwide relationships give clients a competitive advantage.
Since itsfounding in 1958, the mission at Daniels has remained the same: To be a catalyst for business results by providing financial advice and transactional expertise measured by competence, creativity and credibility.
For further information please contact:
Patrik Wallgren, Head of Global Public Relations
+44 7813 647 752
Mike Carrender, CEO
Tiger Telematics, Inc.
Except for historical matters contained herein, the matters discussed in this press release are forward-looking and are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that these forward-looking statements reflect numerous assumptions and involve risks and uncertainties that may affect Tiger Telematics, Inc. and its subsidiary businesses and prospects and cause actual results to differ materially from these forward-looking statements. Among the factors that could cause actual results to differ are Tiger Telematics Inc.'s operating history; competition; low barriers to entry; reliance on strategic relationships; rapid technological changes; inability to complete transactions on favourable terms; and those risks discussed in the Company's filings with the SEC.