Motorola Invests in SiimpelOctober 24, 2007
Investment will allow Siimpel to accelerate development of its MEMS-based integrated optical systems for mobile imaging.
SCHAUMBURG, IL /PRNewswire-FirstCall/ -- Motorola, Inc. (NYSE:MOT) through Motorola Ventures, its strategic venture capital arm, announced that it has made an equity investment in Siimpel Corporation. Siimpel is a leading developer and manufacturer of silicon microelectromechanical System (MEMS) based solutions for mobile imaging applications. Financial terms of the investment were not disclosed.
As the personal mobile device continues to develop from the basic cell phone, consumers now expect to receive superior functionality from other technologies integrated into their devices, such as the ability to take high-quality digital photos. Traditional technologies incorporated into stand-alone digital cameras have not been successful in meeting the size, power, performance, reliability and cost requirements of the mobile phone market. Siimpel's MEMS solution will allow devices such as cell phones to provide features such as auto-focus, shutter and zoom, providing best-in-class imaging performance all while in a low-cost, micro-scale system.
"We are committed to nurturing new technologies that will enable innovative mobile experiences for consumers around the world," said Reese Schroeder, managing director, Motorola Ventures. "This investment will allow Siimpel to accelerate the production of its MEMS based solutions for handset cameras, bringing the handset even closer to true digital camera-like performance."
"Increased expectations of imaging systems in phone handsets, laptops, PDA's and micro-cameras has created a global demand for low cost micro-scale imaging systems," said Tony Tang, CEO of Siimpel. "We are actively collaborating with the world's leading consumer electronics, mobile communications and digital imaging leaders to deliver high-quality digital camera products that fit the size constraints of mobile platforms."
Siimpel is a venture backed firm that specializes in microelectromechanical systems (MEMS), optics, electro-optical design, image sensors, packaging and camera electronics. Siimpel's technology provides best-in-class imaging performance (contrast and color, lower power drain, faster time to focus) in the smallest form factor which is critical to enabling digital still camera (DSC)-like performance in slim form factor devices such as cellphones. Siimpel's investor base includes the strategic venture investment arms of Motorola, Qualcomm, and Micron, as well as SunAmerica Ventures, Draper Fisher Jurvetson, Global Catalyst Partners, Scale Venture Partners, Zone Ventures, Flextronics International and Portage Ventures.
Motorola is known around the world for innovation and leadership in wireless and broadband communications. Inspired by our vision of seamless mobility, the people of Motorola are committed to helping you connect simply and seamlessly to the people, information, and entertainment that you want and need. We do this by designing and delivering "must have" products, "must do" experiences and powerful networks -- along with a full complement of support services. A Fortune 100 company with global presence and impact, Motorola had sales of US $42.8 billion in 2006.
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