InterDigital Leads Funding Round in Kineto Wireless
KING OF PRUSSIA & MILPITAS -- InterDigital Communications Corporation (Nasdaq:IDCC) and Kineto Wireless, Inc. today announced the closing of a $10 million round of funding in Kineto, the key innovator and leading supplier of UMA technology. InterDigital led the round with an investment of $5 million, while Kineto's existing investors -- Sutter Hill Ventures, Venrock Associates, 3i, Oak Investment Partners, SeaPoint Ventures and Storm Ventures - also participated in the financing.
"Major operators around the world are looking to deploy innovative solutions to drive fixed-mobile convergence products to their customers," said William J. Merritt, Chief Executive Officer of InterDigital. "As the recognized leader in UMA, Kineto has demonstrated its ability to successfully deploy a convergence solution that meets the demands of many of the leading operators and manufacturers in the telecommunications industry."
"We are pleased to have InterDigital join the team and help us continue to lead in the global deployment of UMA technology," said Rick Gilbert, President and Chief Executive Officer of Kineto Wireless. "Operator rollouts of UMA are continuing to accelerate, and we are pleased to secure additional resources to help scale the company and meet this growing demand."
About UMA
Unlicensed Mobile Access (UMA) technology is the 3GPP global standard for fixed-mobile convergence. UMA enables secure, scalable access to mobile voice, data and IMS services over broadband IP access networks. By deploying UMA technology, mobile operators can deliver a number of compelling fixed-mobile convergence services. The most well known application of UMA is dual-mode cellular/Wi-Fi handsets, which enable subscribers to automatically roam and handover between cellular networks and public and private WLANs. Leading operators around the world have embraced UMA technology as the foundation of their fixed-mobile convergence strategy, including Telecom Italia, France Telecom/Orange and TeliaSonera. For more information, please visit www.UMAToday.com.
About Kineto Wireless
Kineto Wireless is the key innovator and leading supplier of Unlicensed Mobile Access (UMA) technology, the 3GPP standard for fixed-mobile convergence. As the leading provider of UMA technology, Kineto supplies core network solutions through OEM partnerships with leading network infrastructure providers, and also provides UMA-compliant software, development tools and support services to mobile platform suppliers, mobile handset developers, and other consumer electronics vendors. Kineto was recently named as the recipient of the 2006 Financial Times (FT) World Communications Award for innovation in technology for its role in UMA. For more information, please visit www.kineto.com.
About InterDigital
InterDigital Communications Corporation designs, develops and provides advanced wireless technologies and products that drive voice and data communications. InterDigital is a leading contributor to the global wireless standards and holds a strong portfolio of patented technologies which it licenses to manufacturers of 2G, 2.5G, 3G and 802 products worldwide. Additionally, the company offers baseband product solutions and protocol software for 3G multimode terminals and converged devices. InterDigital's differentiated technology and product solutions deliver time-to-market, performance and cost benefits. For more information, please visit InterDigital's web site: www.interdigital.com.
Contacts
InterDigital Communications Corporation
Investor Relations
Janet Point, +1 (610) 878 7866
Janet.Point@InterDigital.com
or
Public Relations
Jack Indekeu, +1 (610) 878 5737
Jack.Indekeu@InterDigital.com
or
Kineto Wireless
Steve Shaw, +1 (408) 965-0209
sshaw@kineto.com
or
Engage PR for Kineto Wireless
Megan Atiyeh, +1 (510) 748-8200 x228
matiyeh@engagepr.com
or
AxiCom PR for Kineto Wireless
Richard White, +44 20 8392 4050
Richard.white@axicom.com
"Major operators around the world are looking to deploy innovative solutions to drive fixed-mobile convergence products to their customers," said William J. Merritt, Chief Executive Officer of InterDigital. "As the recognized leader in UMA, Kineto has demonstrated its ability to successfully deploy a convergence solution that meets the demands of many of the leading operators and manufacturers in the telecommunications industry."
"We are pleased to have InterDigital join the team and help us continue to lead in the global deployment of UMA technology," said Rick Gilbert, President and Chief Executive Officer of Kineto Wireless. "Operator rollouts of UMA are continuing to accelerate, and we are pleased to secure additional resources to help scale the company and meet this growing demand."
About UMA
Unlicensed Mobile Access (UMA) technology is the 3GPP global standard for fixed-mobile convergence. UMA enables secure, scalable access to mobile voice, data and IMS services over broadband IP access networks. By deploying UMA technology, mobile operators can deliver a number of compelling fixed-mobile convergence services. The most well known application of UMA is dual-mode cellular/Wi-Fi handsets, which enable subscribers to automatically roam and handover between cellular networks and public and private WLANs. Leading operators around the world have embraced UMA technology as the foundation of their fixed-mobile convergence strategy, including Telecom Italia, France Telecom/Orange and TeliaSonera. For more information, please visit www.UMAToday.com.
About Kineto Wireless
Kineto Wireless is the key innovator and leading supplier of Unlicensed Mobile Access (UMA) technology, the 3GPP standard for fixed-mobile convergence. As the leading provider of UMA technology, Kineto supplies core network solutions through OEM partnerships with leading network infrastructure providers, and also provides UMA-compliant software, development tools and support services to mobile platform suppliers, mobile handset developers, and other consumer electronics vendors. Kineto was recently named as the recipient of the 2006 Financial Times (FT) World Communications Award for innovation in technology for its role in UMA. For more information, please visit www.kineto.com.
About InterDigital
InterDigital Communications Corporation designs, develops and provides advanced wireless technologies and products that drive voice and data communications. InterDigital is a leading contributor to the global wireless standards and holds a strong portfolio of patented technologies which it licenses to manufacturers of 2G, 2.5G, 3G and 802 products worldwide. Additionally, the company offers baseband product solutions and protocol software for 3G multimode terminals and converged devices. InterDigital's differentiated technology and product solutions deliver time-to-market, performance and cost benefits. For more information, please visit InterDigital's web site: www.interdigital.com.
Contacts
InterDigital Communications Corporation
Investor Relations
Janet Point, +1 (610) 878 7866
Janet.Point@InterDigital.com
or
Public Relations
Jack Indekeu, +1 (610) 878 5737
Jack.Indekeu@InterDigital.com
or
Kineto Wireless
Steve Shaw, +1 (408) 965-0209
sshaw@kineto.com
or
Engage PR for Kineto Wireless
Megan Atiyeh, +1 (510) 748-8200 x228
matiyeh@engagepr.com
or
AxiCom PR for Kineto Wireless
Richard White, +44 20 8392 4050
Richard.white@axicom.com
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