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WirelessDevNet.com Press Release
The Carlyle Group and QUALCOMM Close Venture Capital Investment in China
BEIJING, July 12 -- Global private equity firm, The
Carlyle Group and QUALCOMM Incorporated (Nasdaq: QCOM), pioneer and world
leader of Code Division Multiple Access (CDMA) digital wireless technology,
today announced the successful closing of a US$3 million investment in Enorbus
Technologies. Based in Beijing, Enorbus is a leading wireless application
publisher and developer of games and entertainment content for wireless
phones. Enorbus is also an elite BREW developer and BREW Global Publisher
(BGP), and has been actively developing next-generation mobile applications
since its founding in 2000.
"The investment by Carlyle and QUALCOMM is a further endorsement of our
current strategy, execution, and overall business approach," said Norbert
Chang, CEO of Enorbus. "We have worked very hard to lead the Chinese market,
and this investment validates our position, while strengthening our overall
presence globally. The BREW solution has already proven to be a key
component to bringing high quality content to China and enables us to rapidly
bring our games to market and generate revenue. We look forward to the added
value and global perspective that both Carlyle and QUALCOMM provide."
"We are very excited about the mobile application and entertainment space
worldwide, especially in China," said Wayne Tsou, managing director of The
Carlyle Group. "We look forward to working with Enorbus to build it into a
worldwide market leader for mobile entertainment," added JP Gan, vice
president of The Carlyle Group.
The venture follows QUALCOMM's $100 million commitment announced in June
2003, to invest in early- to mid-stage Chinese companies engaged in the
development and commercialization of CDMA-based products, applications and
services. QUALCOMM believes that venture investments in a variety of market
segments in China will promote the continued adoption of CDMA worldwide.
"QUALCOMM's investment in Enorbus underscores our commitment to supporting
the growing CDMA value chain in China," said Jing Wang, senior vice president
of QUALCOMM and chairman of QUALCOMM China. "QUALCOMM is thrilled to have
such a high-caliber player in the Chinese wireless game industry join the
expanding BREW developer community based in China. In addition to developing
its own original titles, as a BREW Global Publisher, Enorbus will also help
import BREW game and entertainment content from overseas markets thereby
enabling Chinese CDMA operators to offer their subscribers a wide range of
compelling BREW-based services and applications."
QUALCOMM's BREW system provides products and services that connect the
mobile marketplace value chain, which includes application developers,
publishers, content providers, device manufacturers, operators and consumers.
The Carlyle Group is a global private equity firm with more than
$18.3 billion under management. Carlyle generates extraordinary returns for
its investors by employing a conservative, proven and disciplined approach.
Carlyle invests in buyouts, venture, real estate, and leveraged finance in
North America, Europe, and Asia, focusing on aerospace & defense, automotive &
transportation, consumer, energy & power, healthcare, industrial, technology &
business services, and telecommunications & media. Since 1987, the firm has
invested $10.8 billion of equity in 317 transactions. The Carlyle Group
employs more than 500 people in 14 countries. In the aggregate, Carlyle
portfolio companies have more than $31 billion in revenue and employ more than
151,000 people around the world. Visit www.carlyle.com for additional
information.
QUALCOMM Incorporated (www.qualcomm.com) is a leader in developing and
delivering innovative digital wireless communications products and services
based on the Company's CDMA digital technology. Headquartered in San Diego,
Calif., QUALCOMM is included in the S&P 500 Index and is a 2003 FORTUNE 500(R)
company traded on The Nasdaq Stock Market(R) under the ticker symbol QCOM.
Except for the historical information contained herein, this news release
contains forward-looking statements that are subject to risks and
uncertainties, including the extent and speed to which the BREW solution is
deployed and adopted, change in economic conditions of the various markets the
Company serves, as well as the other risks detailed from time to time in the
Company's SEC reports, including the report on Form 10-K for the year ended
September 28, 2003, and most recent Form 10-Q.
QUALCOMM and BREW are registered trademarks of QUALCOMM Incorporated. All
other trademarks are the property of their respective owners.
For further information, please contact: Christine Trimble, Corporate
Public Relations, +1-858-651-3628, publicrelations@qualcomm.com, or Bill
Davidson, Investor Relations, +1-858-658-4813, ir@qualcomm.com, both of
QUALCOMM Incorporated.
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