Seeker Wireless Strengthens Market Position with EUR6.1 million in New Funds

Funds to Boost Sales and Marketing Activities and Enable Introduction of New Innovative Solutions

London, (PresseBox) - Seeker Wireless has closed a EUR6.1 million funding round to bolster its market position as the world's leading zone detection technology provider for mobile operators. The funding round was led by Chairman David Taylor and Director Christopher Sharples and includes Scott Mead, former partner of Goldman Sachs, and Unigestion, a European Institutional asset management company.

The investment follows a previous funding round last year, which resulted in EUR6.2 million of funding in Seeker Wireless from shareholders and new investors and grants from the Australian Government.

The SeekerZone(tm) solution from Seeker Wireless, created for Fixed Mobile Substitution (FMS), has been recognised by mobile operators as one of the most advanced location technologies available in the market. Mobile operators in EMEA and Asia Pacific have selected SeekerZone(tm) to deliver zone-based charging to encourage subscribers to use mobile phones instead of the traditional fixed line, by setting innovative price plans for users at home and when out and about.

"I would like to thank our investors for their continued support" said Dr. Chris Drane, Chief Executive Officer at Seeker Wireless. "Having developed the most accurate zone detection technology for mobile operators, we are keen to build on our success and expand the company and its offerings. The new funds will be used to strengthen our Sales and Marketing activities to drive growth in new and existing markets, and to introduce new innovative solutions based on our advanced location technology such as location-enhanced mobile marketing."

Seeker Wireless Limited

Seeker Wireless developed the world's leading zone detection technology, which is being used to deliver the most advanced Fixed Mobile Substitution (FMS) solution in the market. SeekerZone(tm) is the first handset location system specifically created for zone detection, delivering zone status alerts for applications such as zone-based charging. With the innovative approach of SeekerZone(tm) mobile operators can achieve zone sizes up to 50 times smaller than Cell-ID zones while ensuring the highest levels of in-zone reliability. This enables operators to reduce cannibalisation of revenues by up to 90% compared to Cell-ID.

Developed by pioneers of the cellular location industry, Seeker Wireless's patent pending technology is designed to deliver the smallest zones at the lowest cost, as well as provide a future pathway to deliver additional services based on subscriber location.

Seeker Wireless has delivered advanced commercial FMS solutions to leading mobile operators in EMEA and Asia Pacific including Vodafone, and works in strategic partnership with global technology and service providers including HP and Acision. For more information visit www.seekerwireless.com.

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