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WirelessDevNet.com Press Release
PixSense Secures Strategic Investment from QUALCOMM
Santa Clara, CA– June 19, 2007– PixSense, a global leader in multimedia and social networking convergence solutions for wireless operators, announced today that QUALCOMM Ventures has led a new round of strategic funding for PixSense. QUALCOMM is a leader in developing and delivering innovative digital wireless communications products and services. PixSense will use this next round to grow its global corporate presence with wireless carriers.
"PixSense's innovative media upload and sharing solution helps operators monetize camera phones while simultaneously reducing the costs of delivering these services,” said Nagraj Kashyap, director of North American operations, QUALCOMM Ventures. "PixSense's solutions also elegantly bridge the technology and usability gaps between social networking services in the Web 2.0 world and mobile handsets, thereby setting a realistic framework for user convergence.”
With the PixSense solution, carriers maximize currently untapped revenue streams from their users' high-end camera phones. PixSense's multimedia and persona management solutions incorporate ground-breaking media compression technology, which dramatically reduces the file size of photos and videos up to 90 percent and optimizes network transmission with no loss in media quality. By integrating this technology into existing wireless carrier infrastructure, PixSense significantly decreases operating costs for wireless carriers and changes the economics of offering rich-media services to mobile subscribers.
Media files often remain stuck on camera phones as a result of several factors, including the difficulty and cost to mobile subscribers in transferring high quality data from their phones. Solving this problem and advancing the mobile ecosystem, PixSense offers a multimedia management solution that benefits both carriers and end users. These solutions enable carriers to empower their mobile subscribers to preserve, share, publish, and manage media and data directly from their handset. PixSense effectively bridges the disparity between advanced camera phone capabilities and consumer underutilization of these features.
"We are very excited about QUALCOMM joining our existing investors and we believe their participation adds significant strategic value to our company,” said Faraz Hoodbhoy, CEO of PixSense. "This strategic investment opens doors both on technology and business fronts for PixSense, and helps us continue to push the envelope in providing enhanced mobile multimedia management and convergence solutions for all players in the wireless carrier ecosystem.”
About PixSense
PixSense provides mobile media management and convergence infrastructure, software, and services for wireless carriers. PixSense's technology enables digital media management and rich-media messaging services to mobile subscribers who increasingly rely on their mobile phone as their primary media device. PixSense's technology also includes patent-pending, on-device media compression technology and network optimization technology that ensure fast transfers, and significantly reduces costs to both end users and wireless operators. For more information on PixSense or to try the solution, visit http://pixsense.com/.
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