~ Gemplus make strategic investment; Apeera DRM/smartcard security vendor merged with Smartphone specialist ~
Thursday 13th May, 2004: Intuwave, the mobile software platform specialist, is pleased to announce a strategic investment by GemVentures, the corporate VC fund of Gemplus, the world's leading provider of smart card solutions. In parallel with this deal, Apeera, a French company specialising in smartcard security (SIM) and Digital Rights Management in which GemVentures is also a minority investor, will merge with Intuwave. The complementary security knowledge of Gemplus and Apeera will enhance Intuwave's ability to deliver leading platforms and applications to the mobile industry. Intuwave will receive a total of US3.6m as a combination of direct cash investment from GemVentures and cash held by Apeera.
Philippe Vallee, Executive Vice-President of Gemplus’ Telecoms Business Unit, said, “Our relationship with Intuwave spans several years and we are impressed by their technology, management team and market positioning as an innovator in Smartphone technology. It became clear that combining the complementary technologies of Apeera and Intuwave to create a full-service offering would resonate strongly in the market by tackling the single biggest issue in deploying mobile applications - security.”
Apeera’s decision to combine its assets with Intuwave’s technology is a logical move that enhances the value of each company. Intuwave will also benefit both from Gemplus' capability to leverage the SIM to enhance security and from its extensive reach into mobile operators, device manufacturers and financial institutions. Their combined know-how will facilitate the development of enhanced security and device management solutions that will enable Mobile Network Operators to provide a world class user experience to their enterprise and consumer customers on GPRS and 3G networks. As a result of its investment, Gemplus will also be taking a full board seat at Intuwave.
Jeff Gordon, executive chairman at Intuwave, said, “Our relationship with Gemplus and the additional capabilities of Apeera will enhance our market proposition overall. In 2008, 160 million Smartphones will ship and users of these devices will demand increased functionality from these devices.(1) The value of the data stored on these handsets will therefore necessitate security measures similar to that of a laptop. Apeera's security expertise will be integrated with our own platform and applications to ensure the security of Smartphone devices and enhance our competitiveness in the marketplace.”
~ Ends ~
Notes to editors
1: Smartphone shipments estimates by Nomura, February 2004
GemVentures is Gemplus' Corporate Venture Capital Fund. It aims to boost the smart card industry by investing across Europe, America and Asia, and focusing on investment in promising companies with high growth potential. The investment Fund strategy is to encourage the realization of new technologies, new applications and new services that will drive tomorrow's smart card world. www.gemventures.com
Apeera (founded in 1999) is developing innovative mobile applications for content provisioning and sharing, as well as a distributed mobile content management solution. Their original investors were Gemplus, Openwave and TPG Ventures. www.apeera.com
About Intuwave – Making Smartphones Make Sense
Intuwave is a software specialist with a single vision – to help both organisations and individuals realise the potential of Smartphones.
We provide customers - handset manufacturers, mobile network operators, enterprises, system integrators, enterprise application developers and independent software vendors – with a series of innovative products that fully leverage the mobile data value chain.
Our products and services, built on the m-Network® platform, are specifically designed for the wireless Smartphone environment. They deliver rapid return on investment through enabling increased market share, margin and operational savings.
Intuwave’s investors are 3i Group, GIMV, Sum International, NIF Ventures, and now, GemVentures.
Telephone: +44(0)20 7298 7113
Telephone: +44(0)20 7298 7138
This press release was distributed by ResponseSource Press Release Wire on behalf of Pleon in the following categories: Consumer Technology, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.