Tiger Telematics' Grab Warthog by the Tusks

Nov 03, 2004, 00:00 ET from Tiger Telematics, Inc

    LONDON, England, November 3 /PRNewswire-FirstCall/ --
     - Tiger Telematics' strengthens development opportunities with
 acquisition of Warthog businesses
     Tiger Telematics Inc (OTC:TGTL ; OTC:TGTL.PK) of Jacksonville, Florida,
 and London, announced today the acquisition of Warthog Plc's subsidiaries,
 intellectual properties and assets, in a move to further expand their games
 development agenda and management infrastructure. As a subsidiary of Tiger
 Telematics, Gizmondo Europe Ltd will be the primary beneficiary of this
 Strategic positioning within the game development sector.
     The deal brings with it a fantastic games portfolio of 12 additional
 games for development on the Gizmondo. Also included is Warthog's immensely
 powerful, proprietary game engine porting tool, named Tusk, which will
 significantly speed up the conversion process of third-party games currently
 being signed to the new format. To highlight this, the recently signed
 Richard Burns Rally will be presented for the first time at the Best of Stuff
 show in London this weekend, showcasing the awesome 3D abilities of the
 Gizmondo's onboard Nvidia graphics accelerator.
     The deal brokered by Durlacher, who were retained to act as exclusive
 financial advisors for this hugely significant UK acquisition, comprises cash
 payments of $1,113,000 and 497,866 shares of common stock in TGTL, to be held
 in escrow. Upon completion of the transaction, the executive directors Ashley
 Hall, Steven Law and Simon Elms transferred their employment to TGTL.
     Carl Freer, MD, Gizmondo Europe, said: "We're absolutely delighted with
 this acquisition and the fantastic opportunities it presents. This is a
 synergistic transaction that will allow us to strengthen management of our
 own game development, and reduce ongoing costs within this area of the
 business." He continued, "The vertical integration of Warthog and it
 subsidiaries will also provide us with a scaleable infrastructure as we
 quicken the pace over the next few months"
     Ashley Hall, CEO, Warthog plc, added: "We're extremely excited with the
 outcome of the deal, not only for the development potential of the device,
 but also being able to introduce a new audience to titles from our portfolio.
 This promises to be a thrilling ride for both companies."
     Aubrey Powell, Director of Corporate Finance, Durlacher, said: "We are
 very pleased to have been able to assist the Tiger Telematics team at this
 pivotal time in the company's development. Games developed by Warthog have
 sold in excess of five million units to date, so this transaction brings
 existing and pipeline game content to Gizmondo, which should help to drive
 sales of their newly launched multimedia device."
     About Gizmondo
     The Gizmondo is powered by a Microsoft Windows CE.net platform, boasts a
 2.8-inch TFT colour screen with a Samsung ARM9 400Mhz processor and
 incorporates the GoForce 3D 4500 Nvidia 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.
     The Gizmondo device and its games are due for launch in the UK in the
 fourth quarter 2004 and in North American markets from the first quarter 2005.
     About Tiger Telematics and Gizmondo Europe
     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 Telematics 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.
     www.gizmondo.com
     www.tigertelematics.com
     About Warthog:
     Warthog is a critically acclaimed independent games developer with
 offices in the UK, USA and Sweden. Founded in 1997 and successfully floated
 on the London Stock Exchange with the symbol (WHOG) in 2001, Warthog has
 successfully shipped more than 20 games on all major platforms. Warthog has
 worked with and continues to work with major international publishers across
 the industry, including Universal, Electronic Arts, Activision, Warner Bros,
 SCi, and Infogrames. The company has worked on numerous high profile licences
 to develop video games including: Harry Potter and the Sorcerers Stone (EA),
 Rally Championship (SCi), Battlestar Galactica (Universal Interactive),
 Looney Tunes, Back in Action (Warner Bros/EA).
     www.warthoggames.com
     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.
 
 

SOURCE Tiger Telematics, Inc
    LONDON, England, November 3 /PRNewswire-FirstCall/ --
     - Tiger Telematics' strengthens development opportunities with
 acquisition of Warthog businesses
     Tiger Telematics Inc (OTC:TGTL ; OTC:TGTL.PK) of Jacksonville, Florida,
 and London, announced today the acquisition of Warthog Plc's subsidiaries,
 intellectual properties and assets, in a move to further expand their games
 development agenda and management infrastructure. As a subsidiary of Tiger
 Telematics, Gizmondo Europe Ltd will be the primary beneficiary of this
 Strategic positioning within the game development sector.
     The deal brings with it a fantastic games portfolio of 12 additional
 games for development on the Gizmondo. Also included is Warthog's immensely
 powerful, proprietary game engine porting tool, named Tusk, which will
 significantly speed up the conversion process of third-party games currently
 being signed to the new format. To highlight this, the recently signed
 Richard Burns Rally will be presented for the first time at the Best of Stuff
 show in London this weekend, showcasing the awesome 3D abilities of the
 Gizmondo's onboard Nvidia graphics accelerator.
     The deal brokered by Durlacher, who were retained to act as exclusive
 financial advisors for this hugely significant UK acquisition, comprises cash
 payments of $1,113,000 and 497,866 shares of common stock in TGTL, to be held
 in escrow. Upon completion of the transaction, the executive directors Ashley
 Hall, Steven Law and Simon Elms transferred their employment to TGTL.
     Carl Freer, MD, Gizmondo Europe, said: "We're absolutely delighted with
 this acquisition and the fantastic opportunities it presents. This is a
 synergistic transaction that will allow us to strengthen management of our
 own game development, and reduce ongoing costs within this area of the
 business." He continued, "The vertical integration of Warthog and it
 subsidiaries will also provide us with a scaleable infrastructure as we
 quicken the pace over the next few months"
     Ashley Hall, CEO, Warthog plc, added: "We're extremely excited with the
 outcome of the deal, not only for the development potential of the device,
 but also being able to introduce a new audience to titles from our portfolio.
 This promises to be a thrilling ride for both companies."
     Aubrey Powell, Director of Corporate Finance, Durlacher, said: "We are
 very pleased to have been able to assist the Tiger Telematics team at this
 pivotal time in the company's development. Games developed by Warthog have
 sold in excess of five million units to date, so this transaction brings
 existing and pipeline game content to Gizmondo, which should help to drive
 sales of their newly launched multimedia device."
     About Gizmondo
     The Gizmondo is powered by a Microsoft Windows CE.net platform, boasts a
 2.8-inch TFT colour screen with a Samsung ARM9 400Mhz processor and
 incorporates the GoForce 3D 4500 Nvidia 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.
     The Gizmondo device and its games are due for launch in the UK in the
 fourth quarter 2004 and in North American markets from the first quarter 2005.
     About Tiger Telematics and Gizmondo Europe
     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 Telematics 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.
     www.gizmondo.com
     www.tigertelematics.com
     About Warthog:
     Warthog is a critically acclaimed independent games developer with
 offices in the UK, USA and Sweden. Founded in 1997 and successfully floated
 on the London Stock Exchange with the symbol (WHOG) in 2001, Warthog has
 successfully shipped more than 20 games on all major platforms. Warthog has
 worked with and continues to work with major international publishers across
 the industry, including Universal, Electronic Arts, Activision, Warner Bros,
 SCi, and Infogrames. The company has worked on numerous high profile licences
 to develop video games including: Harry Potter and the Sorcerers Stone (EA),
 Rally Championship (SCi), Battlestar Galactica (Universal Interactive),
 Looney Tunes, Back in Action (Warner Bros/EA).
     www.warthoggames.com
     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.
 
 SOURCE  Tiger Telematics, Inc