Ericsson Invests in Mobile Marketing Startup

Ericsson Business Innovation AB announced Tuesday that it is investing an undisclosed amount for a 29 percent stake in mobile marketing startup Mediatude AB.

Mediatude, with offices in Stockholm and London, is dedicated to providing voice, SMS (Short Message Service) and WAP (Wireless Application Protocol) marketing services over mobile networks, the company said in a statement.

Mediatude is scheduled to launch shortly in Sweden and the U.K. a mobile advertising offering based on the Mobile Internet Advertiser platform developed by L.M. Ericsson Telephone Co., the parent company of Ericsson Business Innovation, according to Ericsson.

Ericsson first introduced the advertising platform in March of this year, saying that it would allow service providers to offer free or low-cost Internet services funded by advertising. [See "UPDATE: Ericsson Brings Ads to Mobile Net Phones," March 2.]Formally established in July of this year to help develop ideas from entrepreneurs inside Ericsson, the Business Innovation unit has already invested in a dozen companies, the statement said.

Mediatude was formed in December 1999. Privately held, the company's shares are owned by its management, Ericsson, and Real Venture Group.

Ericsson, in Stockholm, can be reached at +46-8-719-0000, or at http://www.ericsson.com/. Mediatude can be contacted in Sweden at +46-708-704-928, or online at http://www.mediatude.com/.

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