Semitech and EDB SEEDS take stake in Inphosoft
23 Aug 2005
Semitech Electronics Ltd (“Semitech”) has subscribed for a 10 per cent equity stake in Singapore-based Inphosoft Pte Ltd (“Inphosoft”), a developer of mobile phone applications. The investment by the Company is S$300,000.
Semitech’s investment is made jointly with SEEDS Capital Pte Ltd (“SEEDS”), an equity-based fund set up by EDB Investments Pte Ltd to provide equity financing for start-ups in the seed stage of enterprise formation under the Startup Enterprise Development Scheme.
For every dollar that Semitech invests in Inphosoft, SEEDS has agreed to match the contribution, bringing the total amount to be invested to S$600,000.
Inphosoft’s technology and products will enable Semitech to enhance its value as an original design manufacturer providing integrated solutions. There will be opportunities for cross-leverage between Inphosoft and Oswin Technology Pte Ltd which designs and manufactures wireless telecommunication products such as smartphones. Oswin is a subsidiary of Semitech.
With the Company’s investment in Inphosoft, Mr Victor Chow, Chief Executive Officer of Semitech, has been appointed a director of Inphosoft.
Inphosoft, founded in 2002 by five young entrepreneurs, develops wireless platforms and applications for mobile network carriers, applications service providers and enterprises in the Asia-Pacific region. Its customers include StarHub and MobileOne in Singapore, Celcom in Malaysia and Indosat in Indonesia. Inphosoft also partners companies like Sun Microsystems, LogicaCMG and Ericsson to market its products globally.
Inphosoft’s products include Mobile Presentation Server, Content Management System, Mobile ERP, Video Streaming Gateway and Micro-payment System. These products enable carriers to provide 2.5G and 3G mobile data services to both the consumer and enterprise market. Inphosoft also has numerous applications for the mobile phone users like mobile dating, mobile blogging and mobile photo gallery.
Back to News
|
