Siemens Acceleration Invests in GlooLabs, Inc.
GlooLabs Inc., a provider of software to enable access and share to consumer's personal multimedia collections on a mobile phone, personal computer, pda or other browser based devices has received a venture capital investment from Siemens Acceleration in Communications. GlooLabs will use the investment for product development and to partner with service providers and consumer device makers who want to rapidly deploy new multimedia services to end-users.
Palo Alto, CA (PRWEB) October 27, 2005 -- GlooLabs, Inc. today announced that Siemens Acceleration in Communications has invested in GlooLabs, Inc. GlooLabs’ software technology, called GlooNet™, is a Java-based platform that allows digital media stored on a home computer to be accessed remotely through any Internet-enabled computer, mobile phone, or PDA. The funding will allow GlooLabs to expand its product portfolio and ramp-up operations for large-scale customer deployments.
Seamless access to personal media and other data has become considerably important in the converging computing and home entertainment environments. GlooLabs’ architectural approach overcomes the current gap of desktop and browser based solutions by allowing end users to retrieve media files stored on various mobile devices and view or play them on any other connected device. GlooLabs’ modular platform enables fixed line operators, wireless operators, handset and set top box manufacturers to rapidly bring a wide variety of new products and services to market under their own brand.
Using GlooNet, consumers can access their home audio collection while at work, select pictures stored on their home PC from a print shop kiosk or share pictures and videos with friends and family without sending bulky email or waiting for lengthy uploads. Additionally, GlooNet includes features for enabling mobile phones to be used as wireless MP3 players without the need for significant local storage capacity.
GlooNet is currently being deployed in several markets in the United States, Asia and Europe. A public GlooNet demonstration site is available at http://www.gloonet.com/. Siemens Acceleration will showcase GlooLabs and four other portfolio companies at the 3G Congress in Hong Kong from November 16 -18, 2005.
“GlooLabs has a very unique position in the crowded field of multimedia services and solutions,” said Dr. Dietrich Ulmer, CEO of Siemens Acceleration in Communications. “Their approach has received immediate, positive response from both the market and the fixed network unit of the Siemens Communications Group. I am confident our strategic investment will greatly benefit both parties.”
“The rapid growth of personal media, broadband networks and the desire to access one’s photos, music, videos and documents anywhere and at any time has created a tremendous opportunity for GlooLabs,” said David Arfin, CEO of GlooLabs. “We’re excited to have Siemens, a strong global player in the world of communications, as an investor and partner.”
About Siemens Acceleration in Communications GmbH
Siemens Acceleration in Communications GmbH is a wholly owned subsidiary of the Siemens Communications Group. Founded in Munich, Germany, in 2001, Siemens Acceleration fosters early-stage start-ups in the communications industry by providing a comprehensive service bundle in addition to funding. Siemens Acceleration currently holds stakes in 21 portfolio companies around the world and is actively seeking investment opportunities in Europe, Israel, North America and Greater China. Siemens Acceleration is part of a greater network at Siemens whose mission is to drive technological innovation by supporting start-up companies. In addition to Siemens Acceleration, also Siemens Technology Accelerator, Siemens Technology-To-Business Center and Siemens Venture Capital contribute to the innovation strategy of Siemens. Their individual mandates are defined according to financing stages and industry focus. For more information: www.acceleration.siemens.com
About GlooLabs, Inc.
GlooLabs, Inc. has developed GlooNet, a multimedia platform for embedded devices and remote access services that enable partners to provide innovative, next-generation technology for use in the home, office, and remote locations. GlooNet supports remote access to photos, music, video and productivity documents. The GlooNet technology is licensed to service providers and device manufacturers and who develop and brand products for the mobile and digital entertainment worlds. GlooLabs is a privately held company headquartered in Palo Alto, Ca. Investors also include Innovent, an entrepreneurial innovation unit in Nokia (NYSE: NOK). For more information, visit www.gloolabs.com.
This release contains forward-looking statements based on beliefs of Siemens management. The words "anticipate," "believe," "estimate," "forecast," "expect," "intend," "plan," "should," and "project" are used to identify forward-looking statements. Such statements reflect the company's current views with respect to future events and are subject to risks and uncertainties. Many factors could cause the actual results to be materially different, including, among others, changes in general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products, lack of acceptance of new products or services and changes in business strategy. Actual results may vary materially from those projected here. Siemens does not intend or assume any obligation to update these forward-looking statements.
Copyright © 2005. GLOO and GlooNet are trademarks of GlooLabs, Inc. All other brand or product names are or may be trademarks of, and are used to identify products or services of, their respective owners.
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