PALO ALTO, Calif., Dec 04, 2007 (BUSINESS WIRE) -- Hercules Technology Growth Capital, Inc. (NASDAQ: HTGC), the premier specialty finance company providing venture debt and equity to venture capital and private equity backed technology and life science companies at all stages of development, today announced that it provided $20 million in debt financing to WildTangent on November 21, 2007. WildTangent is privately held and a leading online gaming network.
"The casual gaming market is growing exponentially, and WildTangent has proven to be a key player," said Sam Bhaumik, senior managing director and group head of technology at Hercules. "WildTangent is a leader in developing new and exciting business models in the online games space," Bhaumik said. "They have invented an industry-leading platform that provides unparalleled opportunities for marketers to appeal to gamers, while enhancing and adding value to the overall gaming experience"
WildTangent powers game services for all leading PC manufacturers in the U.S. including Hewlett-Packard, Dell, Toshiba and Gateway, as well as a growing number of vertical sites and portals. Collectively, WildTangent's owned and operated service reaches over 15 million monthly gamers in the U.S. and Europe with a catalog of more than 450 casual and enthusiast games from nearly 100 top tier and independent developers. The company's own WildTangent Game Studios has produced top-selling downloadable games such as "Fate" and "Polar Bowler."
"PC gaming is the single most popular computer activity after e-mail and chat," said Alex St. John, chief executive officer and co-founder of WildTangent. "Hercules plays a critical role in helping us expand our current offering and create an even richer gaming experience for gamers around the world."
Bhaumik added that WildTangent boasts a strong venture-capital investor base, which includes Accenture Technology Ventures, Advanced Technology Ventures, CIBC Capital Partners, Granite Global Ventures, Greylock Partners, IDG Ventures, Madrona Venture, Millenium Technology Ventures and New Millennium Partners.
About Hercules Technology Growth Capital, Inc.:
Hercules Technology Growth Capital, Inc. is a NASDAQ traded specialty finance company providing debt and equity growth capital to technology and life science companies at all stages of development. Founded in December 2003, the company primarily finances privately held companies backed by leading venture capital and private equity firms. Hercules invests in a broad range of ventures active in technology and life science industries and offers a full suite of growth capital products up and down the capital structure. The company is headquartered in Palo Alto, Calif. and has additional offices in the Boston, Boulder, Los Angeles and Chicago areas. Providing capital to publicly-traded or privately-held companies backed by leading venture capital and private equity firms involves a high degree of credit risk and may result in potential losses of capital. For more information, please visit www.HTGC.com.
Companies interested in learning more about financing opportunities should contact info@HTGC.com, or call 650.289.3060.
Founded in 1998, WildTangent is the fastest growing online game property in the world with 11.5 million unique monthly gamers (comScore - July 2007) offering hundreds of the most popular online and downloadable games from the world's top developers and publishers including its own WildStudios which publishes Polar Bowler, Penguins, Fate and many more.
The WildTangent Games Console ships directly on the desktops of leading PC manufacturers including Dell, HP, Gateway and Toshiba, representing more than 25 million new consumer PCs annually in North America. Gamers of all ages and demographics play more than 250 million game sessions a month across the WildTangent game network. For more information, please visit www.wildtangent.com.
The statements contained in this release that are not purely historical are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to uncertainties and other factors that could cause actual results to differ materially from those expressed in the forward-looking statements including, without limitation, the risks, uncertainties and other factors we identify from time to time in our filings with the Securities and Exchange Commission. Although we believe that the assumptions on which these forward-looking statements are reasonable, any of those assumptions could prove to be inaccurate and, as a result, the forward-looking statements based on those assumptions also could be incorrect. You should not place undue reliance on these forward-looking statements. The forward-looking statements contained in this release are made as of the date hereof, and Hercules assumes no obligation to update the forward-looking statements for subsequent events.
SOURCE: Hercules Technology Growth Capital, Inc.
Hercules Technology Growth Capital, Inc. Main, 650.289.3060 HT-PR firstname.lastname@example.org or Sally Borg, 650.289.3066 email@example.com
Copyright Business Wire 2007
News Provided by COMTEX