Siemens Venture Capital Invests in Global Locate, Inc.
Written by Global Locate, Inc
Monday, 06 June 2005
MUNICH, Germany and SAN JOSE, Calif., June 2 - Siemens AG and Global Locate, Inc., today announce a multimillion-dollar investment by Siemens Venture Capital (SVC) and a product alignment with the Siemens Communications Group supporting their strategy in the A-GPS (Assisted Global Positioning Systems) market.
Global Locate is focused on the emerging market for Location Based Services (LBS) by marketing a portfolio of Assisted-GPS semiconductor solutions, network products and services. Siemens is to integrate Global Locate's A-GPS technologies into its new solution for A-GPS.
Christoph Caselitz, the President of the Mobile Networks Division at Siemens Communications, said, "Global Locate's assisted GPS solutions lead the market in many key areas. Combined with a powerful network solution and a strong knowledge of mobile network operator (MNO) requirements and infrastructure, Global Locate was the strongest partner available to support the Mobile Networks end-to-end strategy of Siemens Communications."
Louis Rajczi, Vice President of Siemens Venture Capital, the $600 million corporate venture organization for Siemens AG, stated that, "Global Locate represented the exact type of company with which SVC likes to partner -- leading edge products, strong management and market traction combined with a strong alliance with a major Siemens business unit."
Global Locate's President and CEO, Scott Pomerantz, stated that "Global Locate is extremely fortunate to be so tightly coupled with Siemens. Our Company has worked closely integrating our products, technology and services into the Siemens location product portfolio over the past 4 years." Mr. Pomerantz continued, "Global Locate will continue to support Siemens on its evolving wireless strategies well into the future."
About Siemens Venture Capital
Siemens Venture Capital (SVC) is the $600 million corporate venture organization for Siemens AG, one of the largest global electronics and engineering companies with reported worldwide sales of $91.5 billion in fiscal 2004. The goal of SVC is to identify and fund investments in emerging and innovative technologies that will enhance the core business scope of Siemens, particularly in Information and Communications, Automation and Control, Medical Solutions, Automotive Technology and Transportation Systems, Power, and Lighting.
With offices in Munich, San Jose (CA), and Boston (MA), and through Siemens Israel, Ltd. in Herzliya near Tel Aviv, SVC has an active portfolio of more than 70 start-up companies and 30 venture capital funds, and plays a key role in the global network of innovation. More: http://www.siemensventurecapital.com/.
About Global Locate, Inc.
Global Locate, Inc. is a privately held company that provides A-GPS products and services for wireless devices and networks. Headquartered in San Jose, CA, the company has sales offices in the New York metropolitan area, Tokyo and Madrid. Global Locate's A-GPS product suite includes the World Wide Reference Network (WWRN), A-GPS Server and integrated Global Locate IndoorGPS(R) chipset. For more information see http://www.globallocate.com/.
NOTE: Global Locate and IndoorGPS are registered trademarks of Global Locate, Inc.
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