CELLON RECEIVES INVESTMENT FROM THE INTEL� COMMUNICATIONS FUND, SOFTBANK CHINA VENTURE CAPITAL, SUNeVISION VENTURES AND UTSTARCOM
Santa Clara, CA - April 15, 2002 - Cellon International, an independent designer of wireless modules and terminals, today announced that it has received funding from the Intel� Communications Fund, Softbank China Venture Capital, SUNeVision Ventures and UTStarcom. This completes Cellon's Series C round of venture financing. Financial details were not disclosed.
Cellon is one of the world's largest total solutions providers for wireless terminals and related technology. The Company provides complete module, platform and terminal ready production solutions for OEMs and private label distributors worldwide.
The Company's 2.5G (GSM/GPRS, CDMA 1x) solutions are already in the market and its 3G (WCDMA, CDMA 2000, TD-SCDMA) family of products are under development. Cellon is ideally positioned to supply production ready designs to mobile/wireless OEMs and private label distributors. The structured platform architecture of Cellon's modules and terminal designs can be easily integrated into hand-held and portable wireless devices. As an independent wireless design house, Cellon is free to partner with and supply its integrated solutions to virtually any organisation.
"We are very pleased with the funding we have received from our Series C investors," said Billy Crotty, Vice President & Chief Operating Officer of Cellon International. "The investment capital will be used to fund the expansion of our marketing and R&D efforts to meet the demands of the next generation of wireless products. We are confident in our outlook for 2002 as we continue to build on new and existing client relationships in all our target markets and geographic regions."
"In today's economy, people want to be able to access information on the move, whether through their mobile telephones or other devices," said Wee Theng Tan, President, Intel China. "The Intel Communications Fund invests in companies, like Cellon, that are helping to increase solutions for products based on the Intel� Personal Internet Client Architecture."
"As a system provider of wireless infrastructure, UTStarcom believes the alliance with Cellon and its proven solutions with proprietary IPR, will provide the ultimate partner through which we can optimize and create innovative solutions, features and applications for the wireless network of the future" said Bill Huang, CTO of UTStarcom.
About Cellon Cellon has grown from its launch in November 1999 to over 500 employees worldwide. It has established strategically located R&D centers in the each geographic region of the world taking advantage of available engineering talent, market access restrictions and fiscal policies, and has fostered strategic relationships with major technology players and 3rd party software licensees. Cellon has launched both GSM and CDMA terminals in China, Europe and the Middle East and is developing 2.5G and 3G products to be launched in 2002 and 2003 respectfully. Over 3 million phones that are in use today are powered by Cellon technology.