Sportvision gets cashMotorola invests in and will team up with the company 12/31/2000 07:00:00 PM Eastern
Sportvision, the New York-based sports-technology firm that provides virtual first-down lines for ABC, ESPN and Fox, has raised $25.5 million in its third financing round. Lead investor in the latest round is Motorola, which is a major sports sponsor in addition to its manufacturing interests in cable set-top boxes and wireless communications, two areas that Sportvision has targeted with its interactive-sports technology. The companies have agreed to work together on such applications, and Motorola will hold a seat on Sportvision's board of directors.
"We all look forward to the day when viewers at home or on the go will share the same excitement of a sports event as if they were in the stadium seats, with an added array of customized multimedia features," says Warren Holtsberg, corporate vice president and director of Motorola Ventures.
Other new Sportvision investors include AIG Global Sports and Entertainment Fund (which includes money from Interpublic and General Motors) and ACTV, which in July agreed to work with Sportvision to develop convergence applications for sports programming and expand on ACTV's HyperTV "two-box" system (see related story, opposite page).
"ACTV's investment in Sportsvision is a strategic move, as we are committed to building out sports-media technologies, providing fans with an enhanced viewing experience," says ACTV President David Reese.