Tuesday, January 17, 2006
Tech Capital Partners Invests in LiveHive Systems Inc.
Software solution brings new revenue opportunities to online sportsbooks
WATERLOO, CANADA, January 17, 2006 – Tech Capital Partners today announced an investment of up to $1.8 million in LiveHive Systems Inc., a software development company creating innovative real-time event wagering solutions for the online gaming industry. The LiveHive NanoGaming™ Solution enables online sportsbooks to offer real-time “nano-event” wagering on any aspect of sporting event and pop-culture competitions, from any internet-equipped device.
The number of event and wager possibilities is almost infinite and could include wagering opportunities such as: "Will the Indianapolis Colts miss this next field goal?" "Is Clemens going to strike this batter out?" "Will Rooney score on this free kick?" "Will Negreanu win this next poker hand?" "Will the Tagi Tribe win this next Survivor challenge?"
"In intensely competitive market, online sportsbooks are looking for solutions to differentiate their product offerings," said Robert Riopelle, Vice President of Business Development, LiveHive Systems Inc."The LiveHive NanoGaming Solution provides real-time, frequent wagering opportunities, making events more entertaining and keeping players engaged. Online sportsbooks can choose between fixed and pari-mutuel odds depending on their risk tolerance level. In other words, sportsbooks can be guaranteed revenue from every wager placed.”
"We met LiveHive Systems through WatStart (http://www.watstart.com), a community initiative designed to help prospective entrepreneurs and new technology companies in the Waterloo Region and we were immediately attracted to the market opportunity and revenue generation potential of the LiveHive NanoGaming platform,” said Tim Jackson, Partner, Tech Capital Partners Inc. “After examining the competitive offerings currently in the market, it became clear that LiveHive’s technology platform has clear advantages in terms of the end-user experience and available betting options.”
LiveHive offers complete turnkey solutions to online sportsbooks wishing to expand their current gaming portfolio to include NanoGaming. Turnkey solutions include software, integration, joint marketing initiatives, and access to the LiveHive 24-hour Broadcast Control Center wager feed, which supports the comprehensive LiveHive broadcast schedule. Operators at the Broadcast Control Center watch events and create wagering opportunities in real-time based on the action taking place within the events. These opportunities are fed to online sportsbooks and are made available to players watching the events live, or via television or the internet.
About LiveHive Systems Inc.
About Tech Capital Partners Inc.
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