SUZHOU, China and TEL AVIV, Israel, March 31, 2011 /PRNewswire/ -- Infinity Group, the leader in cross border China RMB and dollar private equity funds and a pioneer in RMB funds, announced today that its IP Bank has acquired the rights to the advanced technology of both Pulsar and Ghost. The agreements were signed at a ceremony in Tel Aviv today attended by a senior level delegation from the Suzhou Municipal People's Government and Suzhou Industrial Park. The IP Bank is headquartered in Suzhou. The terms of the acquisitions were not disclosed.
Amir Gal-Or, founder and managing partner of Infinity Group and founder and chairman of the IP Bank, said, "The IP Bank has made a great deal of progress since its inauguration approximately six months ago. Our Pulsar and Ghost announcements today demonstrate IPB's active and successful implementation of one of its defined missions - to identify and license advanced technologies and proven IP that will service the needs of the growing Chinese market and help Chinese companies to better compete domestically and internationally."
Mr. Gal-Or continued, "Of equal importance is IPB's mandate to back Chinese companies seeking to upgrade and better compete in China as well as internationally. Our recent investments in China's THT (NASDAQ:THTI, "THT") and Shijiazhuang Xingbai Pharmaceuticals are prime examples of IPB's continued commitment to supporting local Chinese businesses. Though international in its background and reach, Infinity/IPB, at its core, is local Chinese in culture and in its focus."
Ghost technology is a recognized pioneer in cloud computing for the end user. Ghost's product range, includes a comprehensive stack of proven web products for end-user cloud computing including file storage, apps, desktop in a web page, sharing, media, sync client, and mobile access. The company has nine patents pending on key cloud concepts, and a state of the art efficient hosted environment with redundancy and auto-scaling on Amazon Web Services. Ghost is the recipient of several honors including the Wall Street Journal's Walt Mossberg award.
Pulsar welding provides innovative manufacturing solutions enabling companies to manufacture products using a wider range of materials, faster and at significantly less cost. The company's solutions are based on magnetic pulse technology, allowing dissimilar material combinations to be welded together and materials to be formed with fewer processing steps, in a cleaner environment, and delivering a better quality product than other existing conventional welding, brazing or forming process.
About Infinity Group
Infinity Group is an RMB fund pioneer and the leader in cross border China RMB and dollar private equity funds. It is also the founder of the Infinity IP Bank, the hub for IP/technology development and commercialization in China. Infinity Group currently manages twelve funds, ten 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, was founded by the China Development Bank and the IDB Group (the largest conglomerate in Israel). Infinity serves as a bridge for Chinese companies that want to integrate technology and know-how to compete internationally and non-Chinese companies, with proven technology, seeking to capitalize on the Chinese market. Sectors of focus include: medical device, pharma and healthcare services, information technology, agriculture, materials, as well as water and clean technology and energy. Recent high profile activities include investments in THT (Jilin Province, China), Shijiazhuang Xingbai Pharmaceutical Company Limited (Shijiazhuang, China), United Water Corporation (Shanghai, China) and Weigo (Shangdong, China), as well as exits from Tegrity, Orsus, FuturaGene and Teledata Networks. Other China-related exits include Shellcase, Nanomotion, and a partial exit from Digital China. Infinity has offices in Beijing, Changzhou, Chengdu, Harbin, Hong Kong, Jining, New York, Ningbo, Shanghai, Shijiazhuang, Suzhou, Tel Aviv and Tianjin.
For more information, please visit http://www.infinity-equity.com or please contact Marjie Hadad at firstname.lastname@example.org or call +972-54-536-5220. For Chinese language inquiries, please contact Joey Zhu at email@example.com or at +8613601212411.
SOURCE Infinity Group