Motorola Invests in INSIDE Contactless
Strategic Venture Arm Closes Series C Round of Financing
Aix en Provence, France, and Las Vegas, NV . – Motorola, Inc. (NYSE: MOT) through Motorola Ventures, its strategic venture capital arm, today announced that it has made a strategic investment in INSIDE Contactless, a world leader in contactless payment chips and near field communications (NFC) technologies for mobile devices.
INSIDE Contactless’ technologies enable secure applications for payment, ticketing and interactive advertising on mobile devices. These applications are becoming increasingly important as consumers’ desires for greater mobile device functionality grows. The mobile industry is continuously looking for the most effective and secure commerce and payment technologies to provide a wide range of consumer activities.
“The days of true mobile commerce on consumer devices inch closer to reality with contactless payment and NFC technologies,” said Reese Schroeder, managing director, Motorola Ventures. “Following our recent investments in ViVOtech and mFoundry, Motorola Ventures continues to support companies shaping the future of mobile commerce and contactless payments. INSIDE Contactless’ products stand out in the marketplace and are valued for their ability to efficiently enable consumer devices with mobile commerce capabilities.”
"We are honored to be associated with a forward-looking organization and leader in the mobility world such as Motorola Ventures,” said Remy de Tonnac, CEO of INSIDE Contactless. “This investment will allow INSIDE to expand and accelerate the development of our product lines, and create the conditions for a worldwide success in rollout of NFC.”
This closes the investment round announced in December, 2007. Motorola Ventures joins existing investors which include: Sofinnova Partners, Vertex Management, Vertex Ventures, Siparex, GIMV, EuroUS Venture, Granite Global Ventures, Visa Ventures, and recently announced Nokia Ventures and HID Global.
Motorola is known around the world for innovation and leadership in wireless and broadband communications. Inspired by our vision of seamless mobility, the people of Motorola are committed to helping you connect simply and seamlessly to the people, information, and entertainment that you want and need. We do this by designing and delivering “must have” products, “must do” experiences and powerful networks -- along with a full complement of support services. A Fortune 100 company with global presence and impact, Motorola had sales of US $42.8 billion in 2006. For more information about our company, our people and our innovations, please visit http://www.Motorola.com.
About INSIDE Contactless
As the only fabless semiconductor company focused exclusively upon contactless chip platforms, INSIDE Contactless is a market leader in Near Field Communication (NFC), contactless payments, and access control. Innovation in contactless technology has led to more than 55 patents granted to INSIDE, including several essential NFC technology patents. INSIDE is the #1 market share provider of contactless bank card technology in the world, with more than 35 million MicroPass intelligent payment platforms delivered from launch in 2005 through 2007. MicroPass, the 2007 Sesames “Best Hardware” award winner, powers cards issued by more than 20 global bank card issuers. Globally, more than 25 key partners, including major card manufacturers and handset providers, have successfully delivered contactless products such as payment & access cards, point of sale terminals, and NFC enabled mobile handsets which are ‘powered by INSIDE’. INSIDE Contactless is headquartered in Aix-en-Provence, France, with offices in Shanghai, Singapore, Poland, San Francisco, and Boston. For more information, please visit www.insidecontactless.com.
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