PRN: Infinity Group Sells "Mate" IP and I-China Security Marketing and Distribution Rights to Anxin-China for Nearly US$ 30 Million
Infinity Group Sells "Mate" IP and I-China Security Marketing and Distribution Rights to Anxin-China for Nearly US$ 30 Million
BEIJING, July 26, 2012 /PRNewswire/ --
InfinityÂ GroupÂ together withÂ Z-Park Venture Capital in BeijingÂ investsÂ 20 Million RMBÂ (nearly US$3.2 Million)Â in high speedÂ storage hardwareÂ start-upÂ Memblaze
Infinity Group,Â aÂ cross-border platform known for its strong roots in China, its vast, global network of technology and innovation, and its "China Outbound" initiative, which supports Chinese companies with an interest in international business, announced todayÂ that it has soldÂ MateÂ IPÂ and I-China Security marketing and distribution rights toÂ Anxin-China Holdings Limited (1149.HK) for US$30 million. The first part of the transaction totaling US$15 million, 50% in shares and 50% in cash, has been completed. Â The second part of the transaction remains pending and is based on the fulfillment of milestones. Â Meitar Liquornik Geva & Leshem Brandwein handled the legal work.
Mate develops and sellsÂ advancedÂ content analysis and transmission as well as management products for safety and retail applications.Â Anxin-China Holdings Limited is an investment holding company.
"TheÂ Mate/AnxinÂ deal isÂ another important milestone for Infinity, as we believe there is great potential for other like deals in the future. The market in China for Mate's technology is huge. This is only the beginning," said Infinity Group managing partner Mr. Amir Gal-Or.
Ariel Poppel, managing director of finance at Infinity Group said, "Infinity believes Anxin is a great platform for safe city solutions. Â Infinity will work closely with Anxin on implementing advanced solutions in China. We have also committed to owning 5% of Anxin."
Today'sÂ announcementÂ marks Infinity's 10thÂ sale to a Chinese company of IP originating from outside of China. Â Development of the Mate technology began in 2007 after Infinity took control of the company, which was founded in Israel. Â
Under the terms of the agreement, for the next three years, Infinity willÂ assistÂ AnxinÂ in expanding and developing markets for ISD platforms.Â This coincides with Infinity'sÂ well-defined policy to oversee technology cooperation, lend guidance and provide the business services necessary to helping partner companies succeed.
Infinity Group also announced today that, together with Z-Park Venture Capital in Beijing, it has invested 20 Million RMB (nearly US$3.2 Million) inÂ Memblaze, aÂ high-speed storage hardware start-up company.
"As has long been a part of our value added deliverable, Infinity guided Memblaze through itsÂ recent history including a financingÂ process, HR, company structuring and marketing.Â Â With the comprehensive assistanceÂ from Infinity,Â Memblaze'sÂ core technology incubated properly and then was commercializedÂ bothÂ inÂ domestic and international markets. It is a success we are proud of, enough to invest, as announced today," said Mr. Gal-Or.
According to an industry report, solid storage solutionsÂ will be the major solution for corporate-level storage, especially for PCIE-Port PCIE-SSD discs.Â Beginning inÂ 2012, PCIE-SSD market growth in ChinaÂ is anticipated toÂ surpass 500%Â annually.
Mr.Â Max Li, senior associate at Infinity Group, said,Â "MemblazeÂ caught our attention,Â as the team met our expectations and various thresholds of consideration. Â It also enabled Infinity to implement an expertise gained from Maayan Ventures, credited with the start of more than 50 early stage companies.Â It is a pleasure to beÂ exercising in China such experience."Â
About Infinity Group
Infinity Group is aÂ cross-border platform known for its strong roots in China, its vast, global network of technology and innovation, and its "China Outbound" initiative, which supports Chinese companies with an interest in international business.Â It is also the founder of the Infinity IP Bank, the hub for IP development and commercialization in China. Infinity Group currently manages 16 funds, 14 in China. Infinity has a portfolio of 45 companies and has made 22 successful exits. Infinity, which has the greatest number of RMB funds in China.Â Sectors of focus include: information technology, medical device and services, water clean tech, agriculture and materials. Infinity currently has offices in Beijing, Changzhou, Chengdu, Chongqing, Harbin, Hong Kong,Â Jining, New York, Ningbo, Shanghai, Shijiazhuang, Suzhou, Tel Aviv and Tianjin. For more information, please visitÂ http://www.infinity-equity.com.