DUBAI, United Arab Emirates, Feb. 18, 2009 - Intel Capital, Intel Corporation’s global investment organization, has announced an investment in three UAE-based technology companies: Conservus International FZ-LLC, Pulse Technologies FZ-LLC, and Vertex Animation Studio FZ-LLC. The funding, from the Intel Capital Middle East and Turkey Fund, will assist the companies in pursuing regional growth and development plans in addition to extending their product offerings. Intel Capital led all three investments; the amount of each investment was not disclosed.
The announcement coincides with Intel’s president and CEO, Paul Otellini, visit to the gulf region. The visit focused on driving and expanding economic, educational and technology-related support for the region.
"Intel Capital is committed to investing in local companies and encouraging entrepreneurship in technology in the Middle East to help provide communities with useful technology platforms," commented Arvind Sodhani, president of Intel Capital and executive vice-president of Intel. "The Middle East is home to a great deal of talent and innovation. We look forward to collaborating with these dynamic companies and helping them take the necessary steps towards global competitiveness."
The companies benefiting from Intel Capital’s investment are as follows:
- Conservus International FZ-LLC: An IT/Media marketing company that is responsible for the conceptualization, design and development of a revolutionary digital targeted advertising medium known as MyConservus Portal.
- Pulse Technologies FZ-LLC: A leading manufacturer of building automation systems, specifically catering to property and hotel developers across the Middle East, Southeast Asia and Europe.
- Vertex Animation Studio FZ-LLC: A cutting edge technology firm focused on providing world-class services in the field of animation, virtual reality applications and 3D multiplatform games via a multitude of technological platforms.
The investments in these local firms follows the announcement in November 2008 of Intel Capital’s investment in UAE-based Sphere Networks, an emerging national software development firm specializing in enterprise management, in which Dubai Silicon Oasis is also a shareholder.
"As a key player in the IT industry, Intel has an important role to play in helping grow and shape the Information and Communication Technology ecosystem across the region. The Middle East is an important market and we believe that by working with local IT firms we will help these companies contribute towards the region’s overall economic development, in addition to aiding the creation of a knowledge-based economy," said Feroz Sanaulla, Regional Director of Intel Capital in the Middle East, Turkey and Africa.
The funding will come from the US$50 million Intel Capital Middle East and Turkey Fund. This fund invests in companies developing innovative hardware, software, local content, and services throughout the Middle East and Turkey.
Under the Intel Capital program, Intel plans to continue supporting local entrepreneurship in the Middle East through its investments in education, digital accessibility and specialized technical competencies. The purpose of doing so is to help promote technology skills, knowledge transfer and job creation in the UAE. Intel additionally works with several local governments, educational institutions, businesses, non-governmental organizations, program developers, local businesses, and other groups to highlight and demonstrate the benefits of technology.
About Intel Capital
Intel Capital, Intel's global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, home, mobility, health, consumer Internet, semiconductor manufacturing and cleantech. Since 1991, Intel Capital has invested more than US$7.5 billion in approximately 1,000 companies in 45 countries. In that timeframe, 168 portfolio companies have gone public on various exchanges around the world and 212 were acquired or participated in a merger. In 2008, Intel Capital invested about US$1.59 billion in 169 investments with approximately 62 percent of funds (excluding Clearwire) invested outside North America. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com.
About Conservus International FZ-LLC (UAE):
Conservus International is an IT/Media marketing company based in Dubai, UAE. Conservus is responsible for the conceptualization, design and development of a revolutionary digital targeted advertising medium known as the MyConservus Portal. The MyConservus Portal is an e-concierge platform which highlights services available at a single location and provides advertisers with direct access to potential consumers while generating revenue from these advertisements. Conservus has premiered this product in the hospitality sector by taking the generic internet log-in page that greets guests at every hotel, transforming it into a hybrid electronic magazine and boutique portal/concierge service portal. MyConservus portals are currently available in the Jumeirah chain of hotels and the Fairmont Hotel, with a number of additional launches at luxury hotels scheduled for 2009.
About Pulse Technologies FZ-LLC (UAE):
Pulse is a leading manufacturer of home and hotel room automation systems designed for large-scale deployment. Headquartered in Dubai, Pulse delivers convenience, energy savings, fault monitoring, and community services in way that has never before been possible. Pulse leads the industry in terms of ease-of-use, reliability, cost, and flexibility; this is especially true for large deployments where hundreds or thousands of homes or hotel rooms need to be controlled, monitored, and managed centrally. Homeowners, property developers, system integrators, and facility managers all benefit from Pulse’s unique products and services.
About Vertex Animation Studio FZ-LLC (UAE):
Located in Dubai Studio City, Vertex Studios was established to provide world-class service in the fields of Animation, Virtual Reality Applications and 3D Multiplatform Games utilizing cutting-edge technology. These services can be delivered to the audience in high definition either online or through traditional media like DVD and Blue-Ray.
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