Shanghai,
China, March 29, 2004 - Comlent Holdings Inc
(Comlent), a fabless RFIC design house
registered overseas but headquartered in
Shanghai, China, today announced that it has
received investment from Intel Capital, 3i and
other investors that will enable it to realize
its business plans. The total investment Comlent
has received so far is approximately US$9
million.
Comlent will invest a major
portion of the capital in pushing company’s RFIC
products into mass production. After 2 years’
product development, Comlent expects to ship its
initial RFIC products in volume in the near
future.
"We are delighted to receive
this investment from Intel Capital, 3i and other
investors," said Dr. Kai Chen, co-Founder and
CEO of Comlent. "The investment is particularly
timely, as it will help us gear up sufficiently
to capitalize on the exploding opportunities of
PHS/PAS and other wireless communications market
segments in China. Chinese companies in the
wireless communication space who design and
manufacture wireless products for both domestic
and global markets are looking for reliable RFIC
products with strong local support and reduction
in time to market and cost to compete in the
current marketplace. We will focus our growth
strategy at this segment.”
Commenting on
the investment, Mr. Cadol Cheung, Director of
Intel Capital Asia, said, “Intel Capital is very
excited to see the rapid growth of the wireless
market segment in China. Our investment in
Comlent is an example of Intel Capital’s
commitment and support of local companies that
offer products and services to accelerate this
growth even faster.”
“We are investing
in Comlent because of its business model to
support Chinese wireless communications,
technology depth, and cost efficiency of
company’s execution.”, said Ms. Cynthia Ng,
Investment Director of 3i Asia, “The company is
poised for aggressive growth and we are excited
about its prospects and plans”.
About
Comlent Comlent, a radio frequency IC
(RFIC) design house registered in overseas but
headquartered in Shanghai, China, is a leading
RFIC developer with initial business focus on
wireless communication terminals for Greater
China markets. Company’s initial products
include RFIC transceivers for PHS/PAS and 2.4GHz
digital cordless phone terminals and other short
range device (SRD) applications. More RFIC
products targeting new wireless applications of
Greater China will be developed. Comlent has
wholly owned and joint venture subsidiaries in
China and US.
About Intel
Capital Intel Capital, Intel's strategic
investment program, focuses on making equity
investments and acquisitions to grow the
Internet economy, including Internet
infrastructure, content and services in support
of Intel's strategic interests. For more
information, visit www.intel.com/capital.
About 3i 3i is a leader in
international venture capital and private equity
investment. Listed on the London Stock Exchange
(FTSE 100 / MSCI Eurotop 300), 3i has almost 900
staff working from offices across Asia, Europe
and North America and has been partnering
entrepreneurs for sixty years. As at March 2003,
our portfolio included investments in 2,000
businesses worth over US$8 billion (incl.
co-invest funds) and almost US$4.5 billion of
third party funds under management. Focussed
purely on venture capital and private equity
investing - across a wide range of stages,
sectors and geographies - our business is on
helping businesses succeed. Our focus is on
businesses with high growth potential and strong
management. Our aim is to add value beyond
simple capital - leveraging our experience,
unrivalled international network, strong capital
resources and industry credibility to help
businesses succeed.
For more
information, please visit http://www.comlent.com/ or
contact: Ms. Becky Wang. Tel: (86-21)
5080-4588 ext. 122. Fax: (86-21)
5080-4788 E-mail: becky@comlent.com.
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