AdaptiveMobile Secures $5.5M Funding to Pursue Global Leadership in Mobile Security; Intel Capital Main Investor in First Round with Enterprise Ireland Also Participating

DUBLIN, Ireland--()--April 20, 2006--Mobile security and filtering innovator, AdaptiveMobile, today announced it has closed a EUR 4.6 million ($5.5 million) first round of funding. Intel Capital, Intel's venture capital investment organisation, was the main investor with an investment of EUR 4m - additional investments from Enterprise Ireland and a private investor.

The mobile industry is increasingly recognising the need to protect users from access to inappropriate content, unsolicited messaging and harassment. Operators are increasingly accepting a service responsibility to subscribers, whether to protect vulnerable users such as children, or to help corporates to fulfil their duty-of-care to employees.

Security software solutions designed for mobile and wireless environments are forecast to represent $1.27 billion in revenue by 2007, up from $86.4 million in 2002 (source: IDC).

Damien Callaghan, Investment Manager, Intel Capital, stated: "Products that can provide enhanced security and peace of mind to mobile customers are both imaginative and innovative; and we believe address a significant untapped need amongst mobile operators."

Lorcan Burke, CEO, AdaptiveMobile, stated: "We are delighted to work with Intel Capital as a value add investor to address the security needs of Mobile Operators. The investment will allow us to expand on the success of our current deployments and address the global opportunities that we are seeing."

More information can be found at www.adaptive-mobile.com

About AdaptiveMobile:

AdaptiveMobile is a leading innovator in the fast emerging mobile internet security market. The company provides a scalable platform that allows mobile operators to deploy policy based content control, anti-virus, spam-filtering and security management to individuals and enterprise customers.

AdaptiveMobile believes its approach is the only truly effective method of ensuring protection against unauthorised, illegal and harmful mobile material. Its customers include some of the world's largest and most advanced mobile operators and service providers. Its partners include leading enterprise security companies and telecoms equipment manufacturers.

Founded in 2003, AdaptiveMobile is headquartered in Dublin with additional sales offices in North America, the UK and Europe. More information is available at www.adaptive-mobile.com.

About Intel Capital:

Intel Capital, Intel's venture capital organization, makes equity investments in innovative technology start-ups worldwide. Intel Capital invests in a broad range of companies offering hardware, software and services targeting enterprise, home, mobility, health, consumer Internet and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$4 billion in more than 1,000 companies spanning more than 30 countries. During this time, about 160 portfolio companies have been acquired and another 150 have gone public on exchanges around the world. In 2005, Intel Capital invested about US$265 million in about 140 deals with approximately 60 percent of funds invested outside the United States. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com.

Intel and the Intel logo are trademarks or registered trademarks of Intel Corporation or its subsidiaries in the United States and other countries. * Other names and brands may be claimed as the property of others.

Contacts

Hotwire
Sarah Baldry, +44 207 608 4629
sarah.baldry@hotwirepr.com

Contacts

Hotwire
Sarah Baldry, +44 207 608 4629
sarah.baldry@hotwirepr.com