Movea SA, a company specialized in motion sensing technologies
created in March 2007 by a team of experienced researchers and
managers, today announced it has secured its first round investment of
7.3M EUR (over US$10M).
Leading the investment are European based VC funds, I-Source
Gestion (France) and GIMV (Belgium). Co-investing along side I-Source
and GIMV are Thomson SA through its subsidiary Thomson Multimedia
Sales International and French research institute CEA through its
subsidiary CEA Valorisation SA.
Movea SA, led by Chairman and CEO Sam Guilaume, develops and
commercializes motion-based solutions for the digital life experience
to simplify human-digital interface paradigm. The company has
commercial interests ranging from Consumer Electronics and Healthcare
markets.
To secure its Consumer Electronics objectives, Movea SA, today
announced it has completed the acquisition of all assets of Gyration
Inc. the inventor of technology that senses human motion to interface
with digital media content. Gyration was purchased from Thomson, which
will consequently also hold a minority stake in Movea. Financial
details of the operation were not disclosed.
Gyration´s in-air motion controls translate natural hand movements
into immediate on-screen action, accurately responding to changes in
position and direction. The addition of Movea´s technology, based on a
different and complementary set of sensors, gives an expanded ability
to design motion aware devices with additional features, smaller form
factors, lighter weight, prolonged battery life and increased
responsiveness to hand movements.
"Completing this investment and this acquisition are recognition
by industrial and venture capital leaders of the exciting breakthrough
opportunities Movea offers to the market," said Mr. Guilaume. "The
company resulting from this merger owns a unique portfolio of
technologies allowing for the most innovative in-air mouse
capabilities on the market. The acquisition of the pioneer in motion
based devices promotes Movea as a leader in the market. Through our
combined technologies and our worldwide distribution network, Movea
has taken an additional leap, bringing the very best in motion sensing
technology to its customers."
About Movea
Movea, SA is a spin-off from the French renowned research
institute CEA-Leti. Movea licenses CEA-Leti´s unique gyroscope free
motion sensing technology for the Consumer and Healthcare markets.
Movea SA is based in Grenoble, France. Additional information can be
found at www.movea-tech.com.
About Gyration
Gyration is the industry leading provider of motion-sensing
controllers for the digital media markets including business
communications, home entertainment and mobile computing segments.
Gyration offers products though traditional retail store fronts, value
added resellers, system integrators and OEM partners. Gyration has
focused on solutions for the converged technologies market for more
than 16 years. Additional information can be found at
www.gyration.com.
About I-Source Gestion
I-Source Gestion is a venture capital firm dedicated to
early-stage financing in high growth potential companies operating in
the area of Information Technology stemming from public and private
research centers.
With over 50 companies in its portfolio, 6 investment funds (of
which T-source fund) totalling 200 million euros under management,
I-Source covers the following sectors: Infrastructure and internet
services, Corporate software, Contents and Media Technologies,
Communication Systems and related services. The management team
combines a wide experience in venture capital and a vast operational
experience (Management, Technological Project Management, Marketing
and Sales.)
For additional information: www.isourcegestion.fr.
About GIMV
Since its incorporation in 1980, GIMV has grown into Belgium´s
most important venture capital provider and company-builder. GIMV has
now become a major European and international market player. Both in
Belgium and abroad, GIMV invests in information and communication
technology, life sciences as well as in growth financing and
management buy-outs (MBOs) of companies in more traditional sectors.
With its own portfolio and third party fund activities together, GIMV
managed more than EUR 1.3 billion.
GIMV has been listed on Euronext Brussels since 1997. For
additional information: www.gimv.com.
