Useful Networks (Liberty Media) acquires KnowledgeWhere

KnowledgeWhere location-based game PhoneTag Elite
KnowledgeWhere location-based game PhoneTag Elite
Useful Networks, a subsidiary of Liberty Media and developer of location-based services, has announced the acquisition of Calgary (Canada)-based KnowledgeWhere, a provider of location-based mobile games and advertising applications. The financial details of the transaction have not been made public.

Founded in April 2003, KnowledgeWhere is best known for developing platform technology to power location-based mobile entertainment products, such as games (Swordfish and PhoneTag Elite), social networking, and lifestyle applications. More recently KnowledgeWhere has been developing a suite of location-based advertising solutions and toolsets.

KnowledgeWhere was backed by venture capital money raised in September 2006 in a Series A financing lead by BDC Venture Capital, a Canadian venture capital firm. The company raised $2 million at that time, which followed an initial $800,000 investment from family and friends and $700,000 from a business angel.

Founded in 2006, Useful Networks is a privately held subsidiary of Liberty Media Corporation which provides consumer-friendly mobile location technology products, like sniff, its location-based mobile “friend finder.” This cross-carrier application was released in Scandinavia in November 2007 and in the United Kingdom in May 2008, with a U.S. launch slated for later this year.

Liberty Media
With this new acquisition Liberty Media increases its stake on the LBS market. Indeed, in addition to Useful Networks, the media conglomerate also owns TruePosition, which provides location technology platforms (cell ID, Uplink Time Difference of Arrival (U-TDOA), and A-GPS) to wireless operators as well as Zoombak which sells GPS beacons to track vehicles, people and pets.

Monday, August 18th 2008

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