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Ceedo Technologies Secures Funding from Intel Capital.

PETACH TIKVA, Israel -- Ceedo Technologies, Ltd. (www.ceedo.com), a privately held software company that develops and markets desktop virtualization software for portable storage devices, today announced that Intel Capital, the investment arm of Intel Corporation, has agreed to invest an undisclosed sum in the company in a private financing round. Ceedo will use the capital raised to further establish its position as a leader in personal working environment software for consumer portable storage devices and accelerate its growth into the corporate and business market segments.

Ceedo has created virtualization technology that enables running Windows applications from external physical or network drives without requiring installation on the host PC. Ceedo's virtualization platform can be used by solution providers or equipment vendors to deliver consumer, enterprise, professional and business solutions, such as portable working environments on portable drives and self contained appliances on portable personal devices.

Ceedo Personal[TM], the company's flagship product based on its virtualization technology, enables the next step in personalized computing by creating a fully portable working environment, including personal content and applications. Ceedo Personal[TM] enables users to carry, access and utilize their digital lifestyles on any PC and has been licensed to major USB Flash Drive and Hard Disk Drive vendors including Lexar, Maxell, Verbatim and Pleomax (Samsung).

"We share Ceedo's vision of turning portable storage from a medium for carrying files to a medium for mobilizing the user's digital lifestyle," said Joel Fisch, investment manager at Intel Capital-Israel. "The demand for stand-alone storage devices and for consumer electronic devices with embedded storage, such as cell phones and personal media players, creates a need for smart storage solutions that enable portability and mobility."

"This funding from Intel Capital will dramatically advance our vision of creating a de-facto standard and high-value solutions for portable working environments in the consumer, corporate and business market segments," says Dror Sofer, CEO of Ceedo. "Ceedo's offering in these market segments allows users to enjoy a truly portable lifestyle where their digital identity, including media files, settings, preferences and applications, is carried with them in an easy-to-use, yet highly private way."
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Publication:Business Wire
Date:May 10, 2007
Words:350
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