Press Release
Stockholm, April 5, 2007
Industrifonden invests in new digital box
Industrifonden is to invest MSEK 9 in LyngBox Media AB, which is developing a new type of digital box intended for satellite reception of TV pro-grammes. The special feature of this box is that it is automatically updated via the Internet with data on all the world's satellite channels.
LyngBox Media, www.lyngbox.com, is concentrating on launching its Lyngbox satellite re-ceiver on the international market. Christian Lyngemark, who runs the world's largest Internet site for satellite and channel information, www.lyngsat.com, is the brains behind LyngBox. The site has 20 million hits a month from people all over the world interested in satellite TV, who, for example, are looking for information to help them adjust their receiver.
LyngBox is connected to the Internet and automatically retrieves and updates information from Lyngsat.com, such as the latest programme listings. The user can also communicate via the Internet with their LyngBox, for example to record TV programmes on the built-in hard disk.
Industrifonden is the first outside investor in the company. The development of LyngBox has so far been financed by the founders, together with the European Space Agency, ESA. The company was established in Linköping in 2003 and is owned by Lyngemark Satellite AB, Forsway Scandinavia AB, SweCrown AB and 27M Technologies AB.
"LyngBox can handle all the latest transmission technologies and overcomes the serious prob-lem associated with adjusting satellite TV channels," says Lennart Gustafson, Investment Manager at Industrifonden. "It offers a unique level of user-friendliness to those who want to receive a broad range of free satellite TV channels around the world."
LyngBox can also receive HDTV for an ultra-sharp picture quality, via both satellite and ter-restrial, and from both free and paying channels.
"We fill a gap on the market, since the interest in HDTV and free channels is constantly on the increase," says LyngBox Media's CEO Bengt Jönsson. "The capital from Industrifonden will be used to get production going and to launch the box on market, in the first instance in Europe, the Middle East and North Africa. We will also recruit a sales team."