CSI, Inc. Secures $22.4 Million in New Capital to Advance ChoiceSeat Technology

Strategic Insights -

CSI, Inc. has announced $22.4 million in new capital to advance its ChoiceSeat technology, a facility-based entertainment network that converges television with the Internet to enhance the value of live events for the sports community. The new investment comes from the addition of Microsoft Corp. and Axalon Ventures as shareholders, as well as an increase in Intel Capital's investment. The company will use the funds to develop the ChoiceSeat platform based on Intel and Microsoft technologies, which will enable sports rightsholders to distribute a wide variety of content to multiple sports venues.

Key Takeaways:

  • CSI, Inc. has secured $22.4 million in new capital to advance its ChoiceSeat technology platform, which converges television with the Internet to enhance the value of live events for the sports community.
  • The new investment comes from the addition of Microsoft Corp. and Axalon Ventures as shareholders, as well as an increase in Intel Capital's investment.
  • The ChoiceSeat platform will be developed based on Intel and Microsoft technologies, which will enable sports rightsholders to distribute a wide variety of content to multiple sports venues.
  • Axalon, a venture capital firm based in New York, brings a portfolio of content-related companies to the partnership, providing ChoiceSeat access to a rich source of content.
  • The ChoiceSeat technology platform will integrate interactive advertising and e-business capabilities, allowing fans to direct their own interactive sports experience.
  • The platform will be powered by Microsoft Windows NT Server and will be unveiled at Madison Square Garden.
  • CSI and Intel worked together to develop the latest version of ChoiceSeat, which was first piloted with the San Diego Padres in 1997 and 1998.
  • ChoiceSeat has broadcast at several high-profile sporting events, including the Super Bowls XXXII and XXXIII, the 1998 World Series games in San Diego, and home games of the Tampa Bay Devil Rays.

Statistics:

  • $22.4 million: the amount of new capital secured by CSI, Inc. to advance its ChoiceSeat technology platform.
  • 10-inch touch-screen monitors: the size of the interactive monitors integrated into seatbacks at live events, offering features to make the game experience more interesting, informative and convenient.
  • 85 percent: the percentage of WCG stock held by Williams (NYSE: WMB).
  • 9,000 employees: the number of employees primarily in North America working for Williams Communications.
  • 2 years: the time period over which ChoiceSeat was initially piloted with the San Diego Padres (1997-1998).
  • 7 years: the time period over which ChoiceSeat has been developed, from its initial pilot in 1997 to the present day.

Sources:

  • CSI, Inc. press release, February 8 /PRNewswire/ --
  • Williams Communications Group, Inc. press release, www.williams.com and www.williamscommunications.com
  • Axalon Ventures press release, http://www.axalon.com
  • Intel Corporation press release, http://www.intel.com