InnoMedia Secures $115.5 Million In Venture Capital Financing 

InnoMedia, a supplier of Voice-over-IP (VoIP) appliances, gateways, business solutions, and services, announced that it has completed a US$115.5 million round of venture capital financing from several major private and institutional investors worldwide. InnoMedia will use this round of funding to extend its technology leadership position in the market by expanding engineering, ramping up marketing activities, and bolstering its global VoIP service network. This will enable the company to deliver high quality end-to-end IP telephony solutions while meeting the explosive demand predicted for the years to come.

Institutional investors include venture capital firms Vertex Management, Goldman Sachs, Walden International Investment Group, EDB Investments Pte Ltd, and strategic investors Creative Technology Ltd., and CSK Venture Capital and ISAO Corporation, two companies that belong to the Group of Sega Enterprises/CSK Corporation. Private investors include Mr. Kai-Wa Ng, Chairman, CEO and co-founder of InnoMedia and Mr. Sim Wong Hoo, Chairman and CEO of Creative Technology Ltd.

"InnoMedia plans to parlay this significant investment into market leadership in IP solutions," said Mr. Kai-Wa Ng, Chairman, CEO and co-founder of InnoMedia. "These strategic and financial partners will enable us to capitalize on the explosive growth of the Internet telephony market and allow us to stay focused on delivering value to our customers."

InnoMedia has established a strategy that will enable it to offer the cost savings benefits of IP telephony today, while working toward a vision of enhanced global telecommunications services tomorrow. Rather than simply offering a series of standalone products, InnoMedia's vision is based on an end-to-end solution approach to IP telephony, focused on delivering integrated solutions that are easy to use with quality of service.

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