RADICA GAMES LIMITED
ANNOUNCES COMPLETION OF
$10 MILLION VENTURE CAPITAL FUNDING FOR ASSOCIATE
FOR IMMEDIATE RELEASE CONTACT: PATRICK S. FEELY
JUNE 12, 2000 PRESIDENT & CEO
(LOS ANGELES, CALIFORNIA)
(626) 744 1150
DAVID C.W. HOWELL
PRESIDENT ASIA OPERATIONS
& CFO
(HONG KONG)
(852) 2688 4201
(Hong Kong) Radica (NASDAQ RADA) announced today ShareGate, Inc., the Company's
20% owned affiliate, has completed a $10 million venture capital funding.
Blueprint Ventures led ShareGate's fourth and largest investment round, joined
by Advent International and Amtech, LLC, to create a strong showing from major
venture capitalists in the broadband communications arena.
ShareGate will apply the latest infusion of capital toward vital go-to-market
activities for its emerging DSL, cable, and wireless product lines for the SOHO
and residential environments. The resulting increase in product and market
development, and manufacturing ramp-up will drive ShareGate's early market entry
for enabling broadband service bundling.
Radica Games Limited (Radica) is a Bermuda company headquartered in Hong Kong
(NASDAQ-RADA). Radica is a leading developer, manufacturer and distributor of a
diverse line of electronic products including handheld and tabletop games,
high-tech toys, video game controllers and peripherals, and Internet enabled
appliances. Radica has subsidiaries in the U.S.A., Canada and the U.K., and a
factory in Dongguan, Southern China. More information about Radica can be found
on the Internet at www.radicagames.com.
ShareGate is a pioneering provider of enhanced plug-and-play residential gateway
solutions for broadband services. With next-generation gateway solutions
enabling high-speed voice, video and data communications over wired or wireless
connections, it is the first systems vendor in the industry to fully enable
providers to bundle a variety of broadband consumer services through existing
residential communications infrastructure. ShareGate's breakthrough products are
designed for advanced broadband content distribution and auto-provisioning
across multiple media, including DSL, cable modems, wireless connections and
emerging technologies. Established in 1995, ShareGate is a privately held
company funded by Silicon Valley venture capitalists and headquartered in Reno,
Nevada. For more information, visit the company Web site at www.sharegate.com.
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