Infinity Group sells IP to Anxin-China

Anxin-China has agreed to pay $30 million for the marketing and distribution rights to Mate and I-China Security. The first part of the transaction worth $15 million, 50% in shares and 50% in cash, has been completed. The second part is conditional on certain targets being met. Infinity will end up with a 5% holding in Anxin.

Israel-based Mate, which was taken over by Infinity five years ago, develops advanced content analysis and transmission as well as management products for safety and retail applications. The transaction marks the 10th occasion Infinity has sold overseas-developed IP to a Chinese company. I-China Security, meanwhile, is a domestic Chinese firm.

"The Mate-Anxin deal is another important milestone for Infinity, as we believe there is great potential for other like deals in the future," said Amir Gal-Or, the private equity firm's managing partner. "The market in China for Mate's technology is huge. This is only the beginning."

Under the terms of the agreement, Infinity will assist Anxin in expanding and developing markets for urban security systems in China.

Separately, Infinity and Beijing-based Z-Park Venture Capital have invested RMB20 million ($3.2 milion) in Memblaze, a high-speed storage hardware start-up.

Infinity targets Chinese technology companies that are looking to expand overseas as well as international ones keen to build a presence in China. It currently manages 16 funds, 14 of which are China-based, and claims a portfolio of 45 companies.

The China funds - in both renminbi and US dollars - predominantly operate as joint ventures with local governments. Their network of partnerships includes Beijing, Suzhou, Harbin, Changzhou, Shijiazhuang, Ningbo, Tianjin, Chengdu, Yangzhou, Jining, Chongqing, Hongze and Nanjing.

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• Topics
• Greater China
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• Infinity Group
• Trade sale
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