Infinity Group has sold Mate IP and I-China Security marketing and distribution rights to Anxin-China Holdings Limited for $30 million. The first part of the transaction, totaling $15 million, has been completed, the company said. The second half of the transaction will be based on certain milestones. In addition, Infinity Group also announced that it and Z-Park Venture Capital have invested nearly $3.2 Million in Memblaze, a maker of high-speed storage hardware.
Infinity Group, a cross-border platform known for its strong roots in China, its vast, global network of technology and innovation, and its “China Outbound” initiative, which supports Chinese companies with an interest in international business, announced today that it has sold Mate IP and I-China Security marketing and distribution rights to Anxin-China Holdings Limited (1149.HK) for US$30 million. The first part of the transaction totaling US$15 million, 50% in shares and 50% in cash, has been completed. The second part of the transaction remains pending and is based on the fulfillment of milestones. Meitar Liquornik Geva & Leshem Brandwein handled the legal work.
Mate develops and sells advanced content analysis and transmission as well as management products for safety and retail applications. Anxin-China Holdings Limited is an investment holding company.
“The Mate/Anxin deal is another important milestone for Infinity, as we believe there is great potential for other like deals in the future. The market in China for Mate’s technology is huge. This is only the beginning,” said Infinity Group managing partner Mr. Amir Gal-Or.
Ariel Poppel, managing director of finance at Infinity Group said, “Infinity believes Anxin is a great platform for safe city solutions. Infinity will work closely with Anxin on implementing advanced solutions in China. We have also committed to owning 5% of Anxin.”
Today’s announcement marks Infinity’s 10th sale to a Chinese company of IP originating from outside of China. Development of the Mate technology began in 2007 after Infinity took control of the company, which was founded in Israel.
Under the terms of the agreement, for the next three years, Infinity will assist Anxin in expanding and developing markets for ISD platforms. This coincides with Infinity’s well-defined policy to oversee technology cooperation, lend guidance and provide the business services necessary to helping partner companies succeed.
Infinity Group also announced today that, together with Z-Park Venture Capital in Beijing, it has invested 20 Million RMB (nearly US$3.2 Million) in Memblaze, a high-speed storage hardware start-up company.
“As has long been a part of our value added deliverable, Infinity guided Memblaze through its recent history including a financing process, HR, company structuring and marketing. With the comprehensive assistance from Infinity, Memblaze’s core technology incubated properly and then was commercialized both in domestic and international markets. It is a success we are proud of, enough to invest, as announced today,” said Mr. Gal-Or.
According to an industry report, solid storage solutions will be the major solution for corporate-level storage, especially for PCIE-Port PCIE-SSD discs. Beginning in 2012, PCIE-SSD market growth in China is anticipated to surpass 500% annually.
Mr. Max Li, senior associate at Infinity Group, said, “Memblaze caught our attention, as the team met our expectations and various thresholds of consideration. It also enabled Infinity to implement an expertise gained from Maayan Ventures, credited with the start of more than 50 early stage companies. It is a pleasure to be exercising in China such experience.”
About Infinity Group
Infinity Group is a cross-border platform known for its strong roots in China, its vast, global network of technology and innovation, and its “China Outbound” initiative, which supports Chinese companies with an interest in international business. It is also the founder of the Infinity IP Bank, the hub for IP development and commercialization in China. Infinity Group currently manages 16 funds, 14 in China. Infinity has a portfolio of 45 companies and has made 22 successful exits. Infinity, which has the greatest number of RMB funds in China. Sectors of focus include: information technology, medical device and services, water clean tech, agriculture and materials. Infinity currently has offices in Beijing, Changzhou, Chengdu, Chongqing, Harbin, Hong Kong, Jining, New York, Ningbo, Shanghai, Shijiazhuang, Suzhou, Tel Aviv and Tianjin.