Intel to invest in 2 Chinese tech firms
Updated: 2012-10-06 05:08
By CHEN JIA in San Francisco (Chinadaily.com.cn)
Two Chinese companies are among 10 investments totaling $40 million that US-based Intel Corp plans to make around the world, the chip maker announced this week.
Arvind Sodhani, president of Intel Capital. [PROVIDED TO CHINA DAILY]
Intel Capital, the company’s investment and mergers-and-acquisition arm, said at its annual Global Summit near Los Angeles on Wednesday that it will invest in UUCun, a mobile-Internet platform that links phone makers, app developers and advertisers, and Transmension, a developer-distributor of 3-D games for televisions via IPTV, cable and smart-TV technologies.
A breakdown of the amount of investment UUCun and Transmension will receive wasn’t disclosed, nor were other terms. The money will come through the Technology Fund II overseen by Intel Capital’s China branch with the goal of promoting innovation in technology development and business operation.
"With the rapid evolution of the digital media landscape, it is critical for healthy ecosystems to be developed to support these new consumption models and enhance the consumer experience," said Richard Hsu, managing director of Intel Capital China. "Transmension and UUCun are companies that drive innovation in the ecosystem, and Intel Capital’s investment reinforces our commitment to foster China’s IT innovation and industrial development."
Since its first foray into China in 1998, Intel Capital has invested over $650 million in more than 100 Chinese companies, in industries including mobile Internet, cloud computing, digital media and health care. Led by Hsu, Intel Capital China has six investment directors based in Beijing, Shanghai, Hong Kong and Xiamen.
Eight other companies — four in the United States and one each in Brazil, India, South Korea and Taiwan — will share in the $40 million investment, Intel Capital said.
The Global Summit, now in its 13th year, unites about 1,000 Intel Capital-funded entrepreneurs with executives of market-leading companies to exchange ideas and explore possible deals.
"Business deals happen when Intel Capital brings together our vast global network with our portfolio company innovators," Arvind Sodhani, president of Intel Capital, said Wednesday. "The 10 new investments in innovative companies announced today stand to benefit greatly from these long-standing company-building resources."