Intel Capital backs South Korean mobile tech maker
Intel Capital, the US chipmaker's corporate VC arm, has invested an undisclosed amount in Zinitix, a South Korean developer of touchscreen controller technology for mobile devices. The funding will help the company expand into other rapidly growing markets and support product development.
To counter the drop in PC sales, Intel this year announced a range of new products to accelerate the company's presence in mobile.
Zinitix was founded in 2000 and designs microchips that control the touchscreen systems in smartphones and tablets. It has also developed anti-noise, stylus-pen, and cost-reduction touch solution technologies.
Zinitix is already working with technology companies such as LG Electronics, Daewoo, Humax and Inkel.
"With more and more consumer devices becoming touch enabled, the touch controller integrated circuit market is currently experiencing massive growth, aided by the booming smartphone and tablet market," Sudheer Kuppam, managing director at Intel Capital Asia Pacific, said in a statement. "Intel Capital's investment in Zinitix puts us firmly at the forefront of uncovering the latest and the most innovative technologies to deliver better user experience for touch enabled devices."
The investment will be managed by Jack Han, a senior director at Intel Capital, who was previously head of IT investment team at Samsung Group's corporate strategic investment arm.
Intel Capital's Asia Pacific portfolio includes another touchscreen controller solutions company, Taiwan-based eGalax_eMPIA Technology. In 2012, the VC unit invested US$352 million in 150 investments with approximately 57% of funds invested outside North America.
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