Streamezzo Closes Its Second Round of Financing with Investment from QUALCOMM Ventures

PARIS--(BUSINESS WIRE)--Streamezzo, a leading provider of rich media solutions and platforms for mobile communications, today announced it has closed the second tranche of its most recent funding round with the participation of QUALCOMM Ventures, which joins the company's existing investors.

"QUALCOMM Ventures selected Streamezzo as its first direct equity investment in Europe because of the company’s exceptional value proposition and business prospects in the emerging market of rich media application for mobile," said Frédéric Rombaut, head of QUALCOMM Ventures in Europe. “Streamezzo’s standardized technology stands out for its ability to enable fully-customizable and interactive rich media services.”

"We are honored to be associated with QUALCOMM – a company known for being highly selective and successful in backing companies that demonstrate leadership in wireless innovation and pursue robust IP strategies," said Alain Blancquart, CEO for Streamezzo. “This investment will allow Streamezzo to expand and accelerate the development of our product lines, and create the conditions for a worldwide presence.”

This closes the investment round announced in April, 2006. QUALCOMM joins existing investors: AXA Private Equity, T Source, France Télécom Technologies Investissements and GET Valorisation, as well as new investors Sofinnova Partners and Sofinnova Ventures.

About QUALCOMM Ventures

QUALCOMM Ventures was launched in the United States in November 2000 with an initial US$500 million allocation. QUALCOMM Ventures’ aim is to support QUALCOMM's mission of enabling and fostering 3G (WCDMA) and wireless Internet markets through strategic investments in privately owned startup ventures. These strategic investments include companies focusing on wireless communication technologies and products serving consumer, enterprise and vertical markets worldwide.

About Streamezzo:

Streamezzo – a leading provider of embedded rich media solutions – designs, develops and markets tools that make mobile phone content more appealing and more interactive. In addition to its TV-on-mobile solutions, Streamezzo also provides music applications, portals and user interfaces for enhanced browsing ergonomics. Streamezzo’s solutions have already convinced major mobile operators, broadcasters and content providers to launch innovative services on 2.5 and 3G networks as well as trials for DVB-H and S-DMB networks. Alain Blancquart is the CEO of Streamezzo, whose headquarters are located in Paris. Please visit www.streamezzo.com.