INTEL CAPITAL BECOMES iFlyTEK SHAREHOLDER
HeFei, Anhui Province, PRC, January 8, 2002-- iAnhui USTC iFlyTEK Company Ltd, a leading Chinese language processing technology and products provider, announced today that Intel Capital has purchased shares of the company from an existing shareholder, Yongxin Group.
iFlyTEK is a developer of advanced Chinese-language synthesis technology. Its core technology is a Chinese text-to-speech (TTS) engine based on 10 years of research and development. The engine is the foundation of a number of products developed by iFlyTEK for the telecommunications companies, Original Equipment Manufacturers and other solution providers.
"Over the past several years, computing and communication is converging. The need of high quality text-to-speech solutions that runs on Intel� Architecture based server will represent an important part of that development," said Cadol Cheung, Director of Strategic Investment, Intel Capital Asia Pacific. "Intel Capital invests in companies, such as iFlyTEK, that are developing the convergence solutions take advantage of the advancing computing power offered by the Intel� Xeon� processor and Itanium� processor families."
About iFlyTEK Company Ltd
Founded in 1999, iFlyTEK is a leading Chinese language processing technology and products provider. The company has built a client list that includes enterprises in many sectors.
About Intel Capital
Intel Capital, Intel's strategic investment program, focuses on making equity investments and acquisitions to grow the Internet economy, including Internet infrastructure, content and services in support of Intel's strategic interests.
Yongxin Group is headquartered in Hefei, Anhui province. The company primarily engages in IT products distribution, system integration and software development.
CONTACT: Mr. Liu Qingfen, Chief Executive Officer of Anhui USTC iFlyTEK Co., Ltd.
(86 551) 533 1801