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Press Releases at NEXAGE
NEXAGE Announces Funding for its Mobile TV platform venture
Announcing funding from John Ostrem, founder of mobile Linux(TM) company, China MobileSoft
Bellevue, WA — June 30, 2006: NEXAGE, Inc. (http://www.nexage.com), a leading wireless and multimedia software and services company, announced a first round of funding for its Mobile TV platform venture from Dr. John S. Ostrem, founder of China MobileSoft. Recently, NEXAGE has also announced customers for its Hosted mobile TV service and has further extended its lead with more than 10 trials with prospective customers that include Media Companies and Content Providers.
“John has many years of experience in the mobile space. His last venture was founding China MobileSoft, which focused on developing Linux™ based mobile software for the Chinese market. China MobileSoft was acquired by PalmSource last year,” said Devkumar Gandhi, CEO of NEXAGE. “We are fortunate to have John as our investor and board member, and look forward to working with him in building a successful Mobile TV & Video platform.”
The potential of this market is illustrated by iSuppli Corp’s recent Mobile Video report which shows video capable mobile phones growing from 700 Million in 2005 to 2.2 Billion in 2010, and overall mobile video revenues growing from under $550 Million in 2005 to over $14 Billion in 2010.
“NEXAGE’s mobile video solution is an exciting product in a market with great potential,” said John S. Ostrem. "I feel fortunate to have the opportunity to work with Dev and his team."
NEXAGE also announced that it would move its headquarters to San Francisco Bay Area to be closer to customers, investors and innovations. “With this investment we will be able to expand our Engineering team and build the infrastructure for our Hosted Mobile TV platform, allowing us to deploy customers in the pipeline. We will also be focusing on the Web 2.0 companies, who are among our target customer segment, becoming their mobile video delivery platform of choice”, said Mr. Gandhi.
About NEXAGE, Inc.
NEXAGE is a Seattle based wireless and multimedia software and services company, focused on developing and implementing Mobile Video Solutions.
NEXAGE offers PhoneCast, a mobile video services platform to enable wireless operators, content providers and media companies to allow their customers to experience Mobile TV and Video on Demand through wireless devices globally.
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