Israeli technology company Minicom Advanced Systems, announced today that it had secured investment from Intel Capital. The two sides declined to disclose the actual sum that was raised, although sources inform ''Globes'' that it was $7-10 million. This is Minicom’s first institutional investment. The company, which was founded in 1987, has not raised any venture capital finance to date.
Minicom develops and produces keyboard, video, mouse (KVM) digital and analog solutions for server management. The company’s products enable IT managers at enterprises, server rooms, or information control centers, to coordinate overall control and maintenance of computers and servers, and locate and fix real-time faults.
Minicom also develops solutions for multimedia (audio/video) content transmission. The company’s Video-over-CAT5 distribution systems generate real-time message displays at multiple locations and provide "last mile" connectivity for digital signage infrastructure for shopping malls, commercial centers, bus and train stations, and airports. The investment from Intel Capital’s investment will allow Minicom to further expand its product range, and enhance its KVM and digital signage sales and customer service support centers worldwide.
Intel Investment Capital manager Joel Fisch said, “Minicom is an innovative vendor in the growing KVM market. Their technology enhances manageability and remote support capabilities which have become a key component in data centers and mission critical computing environments.”
Minicom president and CEO Eli Sasson added, “We are very excited with the investment. Intel Capital is one of the most important strategic investors in the high tech industry. The investment will allow us to accelerate the development and deployment of new, innovative products for our customers.”
Minicom is a company that keeps a low profile. It was founded by private investors and has not previously raised finance from institutional investors. Market sources believe it is profitable. In 2005 the company acquired Replicom Ltd. founded by Dr. Shimon Eckhouse, for an undisclosed sum. Replicom’s employees were integrated into Minicom’s IT division, where they will develop the company’s next generation of remote control products. Minicom’s customers include France Telecom, JP Morgan, Hewlett Packard, Merrill Lynch, Oracle, Sprint Nextel, and the US Army.
Published by Globes [online], Israel business news - www.globes.co.il - on October 25, 2006
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