Grenoble, France
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.
Source: Business Wire (Business Wire India)