Telenor Venture makes new investment in the North American messaging market

June 28, 2004

1 Min Read

ROCKVILLE, Md. -- Telenor Mobile Interactive USA (www.telenor-interactive.com), a leading mobile applications and messaging service company in the United States, has been acquired by Telenor Venture, the venture capital company within the Telenor Group. The company will now be called Telenor Interactive.

Telenor Interactive will continue to expand its operations within the United States' premium messaging and mobile content market, working with companies on the distribution of mobile content and messaging services. In July 2003, the company was the first in North America to launch cross-carrier premium messaging services, together with Disney's ABC Television group. Since then, Telenor Interactive has facilitated numerous text-to-screen, text- to-radio, text alert and text-based games services with a variety of North American media production companies, TV networks, and mobile content providers including: Walt Disney Interactive; 20th Century TV; Univision; Telemundo; FremantleMedia; ABC Radio, TV and News.

"Telenor ASA has been instrumental in providing seed financing for the company through the business unit, Telenor Mobile, and we have been successful in reaching our targets for the North American market by securing carrier contracts and delivering services to leading media companies. Telenor Venture provides the company with added resources to execute our current strategy, both financially and through a close cooperation with their strong portfolio of telecomm and media companies," explained Steinar Svalesen, CEO of Telenor Interactive.

Telenor ASA

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