Intel Capital invests in three UAE companies

The funding, from the Intel Capital Middle East and Turkey Fund, will assist the companies in pursuing regional growth and development plans in addition to extending their product offerings. Intel Capital led all three investments; the amount of each investment was not disclosed.

The announcement coincides with Intel�fs president and CEO, Paul Otellini, visit to the gulf region. The visit focused on driving and expanding economic, educational and technology-related support for the region.

�gIntel Capital is committed to investing in local companies and encouraging entrepreneurship in technology in the Middle East to help provide communities with useful technology platforms,�h commented Arvind Sodhani, president of Intel Capital and executive vice-president of Intel.

�gThe Middle East is home to a great deal of talent and innovation. We look forward to collaborating with these dynamic companies and helping them take the necessary steps towards global competitiveness.�h

The companies benefiting from Intel Capital�fs investment are as follows:

Conservus International FZ-LLC: An IT/Media marketing company that is responsible for the conceptualization, design and development of a revolutionary digital targeted advertising medium known as MyConservus Portal.

Pulse Technologies FZ-LLC: A leading manufacturer of building automation systems, specifically catering to property and hotel developers across the Middle East, Southeast Asia and Europe.
Vertex Animation Studio FZ-LLC: A cutting edge technology firm focused on providing world-class services in the field of animation, virtual reality applications and 3D multiplatform games via a multitude of technological platforms.

The investments in these local firms follows the announcement in November 2008 of Intel Capital�fs investment in UAE-based Sphere Networks, an emerging national software development firm specializing in enterprise management, in which Dubai Silicon Oasis is also a shareholder.

�gAs a key player in the IT industry, Intel has an important role to play in helping grow and shape the Information and Communication Technology ecosystem across the region. The Middle East is an important market and we believe that by working with local IT firms we will help these companies contribute towards the region�fs overall economic development, in addition to aiding the creation of a knowledge-based economy,�h said Feroz Sanaulla, Regional Director of Intel Capital in the Middle East, Turkey and Africa.

The funding will come from the $50m Intel Capital Middle East and Turkey Fund. This fund invests in companies developing innovative hardware, software, local content, and services throughout the Middle East and Turkey.

Under the Intel Capital program, Intel plans to continue supporting local entrepreneurship in the Middle East through its investments in education, digital accessibility and specialized technical competencies. The purpose of doing so is to help promote technology skills, knowledge transfer and job creation in the UAE. Intel additionally works with several local governments, educational institutions, businesses, non-governmental organizations, program developers, local businesses, and other groups to highlight and demonstrate the benefits of technology.