Electronics Production | May 02, 2005
Motorola invests in Asylum
Motorola, Inc. has made a strategic minority investment in Asylum Telecom LLC, a global provider of “turnkey” Internet-based communication solutions.
Motorola Ventures, the investment arm of Motorola, Inc. aggressively invests in early stage companies with technologies that help accelerate its vision for Seamless Mobility. Motorola Ventures made the investment in Asylum Telecom in the form of a convertible secured note. Terms of the investment were not disclosed. Asylum has developed and launched a leading edge Internet communications technology currently serving customers in over 25 countries. Asylum’s solutions provide substantial benefits enabling customers to easily enhance their existing communications infrastructure with services that were previously too complex or too expensive. Asylum’s product portfolio includes anytime-anywhere access, voice VPN services, converged GSM/IP mobile, and instant messaging. Via a global network of channel partners, Asylum provides a seamless solution, including full OSS/BSS (Operation and Business Support Systems) — eliminating traditional integration and deployment delays. Asylum will focus Motorola Venture’s investment towards R&D to continue building solutions that will increase communications convenience while driving down end-user cost. "Our decision to invest in Asylum was driven by their innovative approach to VoIP and their ability to deliver a seamless user experience” said John O’Donohue, managing director of Motorola Ventures, Europe, Middle East and Africa. "This investment will enable the company to explore opportunities that leverage the exploding Internet telephony and video markets and accelerate our overall seamless mobility vision. It is our first venture investment in a company having a significant R&D and support facility in Hungary and the depth of engineering talent has impressed us.” Founded in February 2003, Asylum is a privately-held, venture-capital funded company headquartered in New York with R&D and operational support offices in Budapest, Hungary and Massachusetts, USA.
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