Press release
amBX
20 October 2008
AMBX SPINS OUT FROM PHILIPS WITH VC BACKING AND PAVES THE WAY TO BECOME AN ENTERTAINMENT STANDARD
20 October - Redhill, Surrey – amBX today announced a successful spin-out from the Philips Technology Incubator through the formation of amBX UK Limited with the backing of Prime Technology Ventures (PTV), a leading independent pan-European venture capital firm headquartered in the Netherlands.

Originally conceived and developed by a team within Philips Research in the UK, amBX is a technology that delivers full “sensory surround” entertainment experiences. It enables content creators to add real world effects using light, colour, sound, rumble and even air flow, through licensed amBX devices, to the virtual worlds of computers, games, music, movies and TV entertainment.
With amBX the entertainment world can be brought into the real world to create incredible immersive experiences.

amBX is now launched as an independent business with the goal to make the amBX technology an ubiquitous standard in entertainment media and hardware.
The new company will strengthen its position within the gaming sector and launch into new entertainment sectors such as music, films, PC-based entertainment and public venues. amBX will continue to work with Philips who remain an amBX licensee as well as a Limited Partner in PTV, but will have the freedom to license its technology to a wider range of companies.

“amBX was originally conceived within Philips who have a heritage of creating innovative and ground-breaking technologies,” commented Neil MacDonald, CEO, amBX. “We’re now ready to take amBX to the next level and our successful spin-out as an independent company will allow us to drive amBX as an essential platform for not only PC, but for console gaming entertainment, home theatre, music and even larger, bespoke installations in large scale entertainment venues.”

Sake Bosch, founder and Managing Partner of PTV commented: “We believe this business has great potential and matches our sector experience and expertise. Above all, the strategy and ambition of amBX is in line with our strategy to invest in high growth companies which have the potential to achieve international dominance.”

amBX has already licensed the technology to many content developers and publishers in the gaming sector. A new amBX development kit and partner program to be launched soon will allow many more companies creating both hardware and content across the whole of the entertainment industry to add this innovative technology to their products.



-ENDS-

For more information please contact Mark Ward or Dean Barrett at Bastion Ltd.
Tel: 020 7421 7600 email: mark@bastion.co.uk
Bastion Online Press Centre: www.bastion.co.uk
amBX site: www.ambx.com

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