ASOCS Secures a New Round of Funding, Signs a Strategic Representation Agreement With the Forum Group of Companies

Jun 21, 2010, 05:29 ET from ASOCS

ROSH HA'AYIN, Israel, June 21, 2010 /PRNewswire/ -- Forum International Equity Fund lead ASOCS new round of financing alongside ASOCS existing investors. The Forum Group will boost ASOCS entry into new markets, primarily in Asia pacific utilizing Forum Group's experienced team responsible for creating its MVNE/MVMO platform - Forum Mobile and Forum Tel, as well as, the group's strategic connections in the region.

ASOCS, the leading developer of wireless MultiComms(TM) processors and system solutions for handheld devices announced today that it has concluded a new round of equity financing lead by Forum International Equity Fund. The Group will provide ASOCS with a myriad of opportunities including access into new market segments focusing on wireless networks in Asia Pacific as well as strategic inroads to technology powerhouses in the region and beyond.

"ASOCS is poised to become one of the gems of our new equity fund," said Ami Segal, the Forum Group founder and president. "ASOCS is run by a top notch management and technical team, with a truly innovative technology and above all, a vast and fast growing market opportunity in the realm of Software Defined Radio."

"We are proud to have the forum group on board, both as a business partner and a shareholder," said Gilad Garon, Co-Founder and CEO of ASOCS. "The forum group brings to the table, alongside financial support, valuable business know-how, relevant market understanding and strong inroads to key partners, all relevant and strategic to ASOCS. The company will benefit from the Group's MVNE/MVNO operations as yet another vehicle for our cellular solutions in the domain of GSM, TD-SCDMA, and mobile television solutions."

The ASOCS MP100 MultiComms(TM) processor introduces a revolutionary approach to wireless communication - a single chip running multiple software-reconfigurable modems concurrently providing low latency air-interface switching, minimal power consumption, and enabling user-transparent access to the internet. ASOCS has recently announced a reference design targeted at the new China Mobile network. ASOCS has already introduced together with partners a Mobile TV (CMMB), .GSM and 3G (TD-SCDMA) all in one data card exclusively for that market.

About ASOCS:

Founded in 2003, ASOCS develops and markets MultiComms processors designed to enable seamless connectivity over diverse air interface networks. ASOCS' ModemX(R) is a unique solution based on patented algorithm technology and flexible software-based modems. It ensures low power consumption and effectively runs multiple-communication standards concurrently. ASOCS has partnered with leading chip makers, as well as hardware, software and module developers to provide mobile consumer electronics vendors with a complete MultiComms SoC solution.

About the Forum Group

Founded by Ami Segal in 1993, the group has several activities:

In the capital markets, the Forum Group has products managed by the largest global financial institutions. The Group has an international platform managing a large number of funds.

In the telecommunications market, the Forum Group has recently launched activities in the MVNE field serving virtual operators and is a controlling shareholder in Forum Tel, a global MVNO operating in the world hospitality niche.

The group launched a new private equity fund, focusing on communications companies which can benefit from its hands-on approach. It is a technology oriented fund, focusing in the telecommunication field. Forum has partners and offices in the US, Europe, the Far-East and Israel. Such global positioning enables Forum to provide added value to its portfolio companies, including in establishment of Joint Ventures with overseas partners and to find partners for successful and quick penetration of their products into foreign markets. Forum's team has substantial experience in investments, asset management and technology transactions, the support and consultation of which Forum provides to its portfolio companies, partners and clients.

The Group has several holdings in the fields of software, online advertising, communications and information security including the market leaders in value added distribution of such products.

In the high tech market, the Group has made numerous direct & indirect investments through the investment funds it manages.

The Forum Group has over 50 employees, of whom 25 are employed by the Ra'anana branch.

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    Tel : +972-3-901-2090