Hercules' Portfolio Company Sling Media, Inc. Is Acquired By EchoStar For $380 Million, Culminating Two-Year Financing

September 26, 2007

Hercules Technology Growth Capital, Inc. today announced that its portfolio company, Sling Media, Inc., a leading digital lifestyle company offering consumer services and products, has been acquired by EchoStar Communications Corporation (NASDAQ: DISH). EchoStar announced on September 24, 2007, its agreement to acquire Sling Media. EchoStar, through its DISH Network(R), is the third largest pay-TV provider in the U.S. The transaction values Sling Media at approximately $380 million and is payable in cash and EchoStar options. The transaction is subject to customary closing conditions and is expected to close in the fourth quarter of 2007. Established in 2004, Sling Media has been a leading innovator in the digital lifestyle space through the introduction of the internationally acclaimed, Emmy award-winning Slingbox(TM) and SlingPlayer(TM) software. Sling Media's product line is distributed in over 5,000 retail stores in 11 countries. In 2006, Sling Media created the Sling Entertainment Group with the mission of developing entertainment experiences and business models that reach beyond the Slingbox. The group also fosters and manages relationships with content creators and owners. Its first initiative, Clip+Sling(TM), dramatically changes the way consumers socialize around TV by enabling users to clip and share limited segments of their favorite television programming.

Read More: