Celvibe Ltd. Gains Far East Presence With $2 Million in Investments From China Development Bank and Strategic Asian Investor.Business Editors NATANYA, Israel--(BUSINESS WIRE)--May 21, 2001 Celvibe Ltd., a developer of advanced solutions for streaming high-quality live television broadcasts to wireless devices, has received $2 million in investments from a leading Far Eastern-based organization - China Development Industrial Bank (CDIB CDIB Certificate of Degree of Indian Blood ) of Taiwan - and a strategic Asian investor. These investments - $1 million from each organization - are additional installments to the company's second round of $12 million that is being lead by the Challenge Fund. The $10.5 million that has been raised so far is made up of $8 million from the Challenge Fund, Poalim Capital Markets Technologies, Ophir Technologies and Eurofund Israel 2000, and a half-million dollars from tecc-IS (AIM: TIS.L), which is affiliated with investment houses in Scandinavia, the United Kingdom, Israel, South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. and China. "China Development Industrial Bank has invested over $43 million in funds and high-tech companies in Israel since 1996, because we believe there are key technology synergies between Taiwan and Israel," said Dr. Tawei Sun, vice president of technology, CDIB. "We believe that Celvibe's wireless streaming solution is a critical technology that has the potential to transform the wireless marketplace." "The new Asian-based investments represent the continuation of Celvibe's strategic focus of expanding into new markets including the Far East," said Oded Peretz, 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. and president, Celvibe. "We are focusing our efforts on expanding our reach into markets around the world and this support in the Far Eastern marketplace will give us significant reach into this important region." About China Development Industrial Bank China Development Industrial Bank (CDIB, www.cdibank.com), founded in 1959, is Taiwan's largest and most successful investment bank and is also the first privately, chartered development financial institution for local industries. Major business activities include direct investment, corporate banking, underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. , project finance, and security trading. CDIB, traded with a market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. of over USD USD In currencies, this is the abbreviation for the U.S. Dollar. 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. 6.5 billion, has now more than 450,000 shareholders, with a net worth of over USD 3.6 billion and an asset base exceeding USD 6 billion. About Celvibe Celvibe (www.celvibe.com) develops advanced solutions for streaming high-quality live television broadcasts to wireless devices, such as Smart Phones, PDAs, handheld PCs  An editor has expressed concern that this article or section is .Please help improve the article by adding information and sources on neglected viewpoints, or by summarizing and , laptops and game consoles See video game console. . The company's flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , CelFeed(TM), is a real-time MPEG-4 transcoder and streamer that enables wireless carriers to deliver rich media content seamlessly to their customers. Mobile device users can view live, high-quality multi-channel video in real-time. Customers and partners include telecommunication companies and wireless carriers who are adding packet switch capabilities to their networks, mobile infrastructure manufacturers, content providers, application providers and video server manufacturers. Celvibe was founded in February 2000 by CEO and President Oded Peretz and by Eyal Farkash, who also serves as the senior manager of Advanced Technology. With corporate headquarters in Natanya, Israel and U.S. offices in Silicon Valley, Celvibe employs more than 50 people. For additional information on Celvibe, please visit our Web site at www.celvibe.com. CelFeed is a trademark of Celvibe Ltd. All other trade names are the property of their respective owners. This press release is available on the Celvibe Web site at www.celvibe.com and the KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association Web site at www.kcsa.com. |
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