Bitfone Secures Strategic Investment From Orange Ventures.Business Editors & High-Tech Writers CANNES, France--(BUSINESS WIRE)--Feb. 20, 2003 Bitfone Corp. (www.bitfone.com), a leader in over-the-air firmware A category of memory chips that hold their content without electrical power. Firmware includes flash, ROM, PROM, EPROM and EEPROM technologies. When holding program instructions, firmware can be thought of as "hard software." See flash memory, ROM, PROM, EPROM, EEPROM and FOTA. update technology for mobile phones, today announced that it has secured a strategic investment from Orange Ventures. This investment will add to the $29.5 million funding from Nokia Venture Partners, St. Paul St. Paul as a missionary he fearlessly confronts the “perils of waters, of robbers, in the city, in the wilderness.” [N.T.: II Cor. 11:26] See : Bravery Venture Capital, 3i, Nexit Ventures, CIR (Committed Information Rate) In a frame relay network, the average transmission rate in bits per second (typically Kbps) for a virtual circuit. It defines the maximum rate that the network can handle under normal conditions. Ventures, and others. "Orange Ventures invests in leading wireless technology companies that have the drive to execute on their vision to bring necessary solutions to market," said Mike Dolbec, partner, Orange Ventures. "Bitfone is at the forefront of the device management market with unmatched technical expertise and an experienced management team." Bitfone's market-leading mProve(TM) is the first commercially available product for updating a wireless phone's entire firmware over the air in a fault-tolerant manner. The solution enables service providers and mobile phone manufacturers to reduce costs and increase revenue through over-the-air phone enhancements. With mProve, manufacturers and carriers prevent software related product recalls, phone replacements and retail center servicing, resulting in significant cost savings. "Orange Ventures' investment further validates Bitfone's leadership position in rapidly bringing over-the-air firmware update solutions to market," said Gene Wang, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Bitfone. "Bitfone is poised to supply the wireless industry with innovative technologies that enable manufacturers and operators to reduce costs, accelerate time-to-market, and improve customer satisfaction. This investment is a true testament to Bitfone's market opportunity and our unique approach to update firmware over-the-air." About Orange Ventures Orange Ventures is a private global venture capital partnership dedicated to investing in telecommunications technologies that enable wirefree mobility. Orange Ventures has a EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 225 million fund under management and has Orange SA, one of the largest mobile service providers in the world, as its sole limited partner. Formed in late 2000, Orange Ventures has offices in London, Boston, San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , and New Jersey and invests in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Europe and Israel. About Bitfone Corp. Bitfone Corp. provides innovative software solutions for mobile device management. Bitfone's mProve(TM) is the wireless industry's leading technology that updates a mobile device's core embedded operating system An operating system used in special-purpose applications (embedded systems). Embedded operating systems are typically very compact and often designed for real time operations. See embedded Linux, QNX, OS-9, Windows XP Embedded, Windows CE, VxWorks and Symbian OS. , over the air in a secure and fault tolerant The ability to continue non-stop when a hardware failure occurs. A fault-tolerant system is designed from the ground up for reliability by building multiples of all critical components, such as CPUs, memories, disks and power supplies into the same computer. manner. mProve offers wireless manufacturers and carriers significant benefits, including the ability to reduce warranty, recall, and customer service costs, as well as enables the delivery of billable services and software. Bitfone is a global company headquartered in Laguna Niguel, Calif., with offices in Japan and Korea. Bitfone's investors include Nokia Venture Partners, St. Paul Venture Capital, 3i, Nexit Ventures, and CIR Ventures. For more information, visit www.bitfone.com. |
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