Motorola Ventures, the equity investment arm of Motorola today announced an investment in CopperGate Communications, a supplier of chipset solutions for multimedia home networking. The investment was made as part of a $14.5 million round led by new investor Carmel Ventures, with the participation of existing investors Tamir Fishman Ventures and Etgar - the Challenge Fund. The announcement was made today at the Consumer Electronics Show (CES) in Las Vegas.
Motorola Ventures managing director Matthew Growney said, "CopperGate's technology brings a compelling new approach to the distribution of IP video content seamlessly throughout the home by leveraging existing wires. CopperGate's offering complements Motorola's strategy to offer multiple home media networking solutions to its customers."
Tamir Fishman Ventures managing general partner, and CopperGate board chairman Shai Saul said, "Motorola's investment in CopperGate validates our technology. Motorola and CopperGate share a common vision and focus -- provide the best solution to IPTV customers in one of the most exciting market opportunities in the communications landscape: the connected home."
CopperGate CEO Gabi Hilevitz said his company, "Intended to leverage the additional funds and the strategic relationship with Motorola to expand the international recognition for our home networking technology and further establish our solutions as the preferred choice for in-home multimedia content distribution by service providers and consumers."
Motorola Ventures is the global, strategic equity investment arm of Motorola, Inc. Motorola Ventures invests at all stages in developing companies of strategic value to Motorola in order to accelerate access to new technologies, new markets and new talents.
Published by Globes [online], Israel business news - www.globes.co.il - on Wednesday, January 04, 2006
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