Rightware Closes Funding and Acquires Futuremark’s Mobile and Embedded Business Unit
Espoo, Finland, January 7th, 2010: Rightware Oy announced today that it has acquired Futuremark Corporation’s Mobile and Embedded Business Unit. The company also announced that it has secured 3 million Euro venture capital investment from Inventure Oy and Nexit Ventures Oy.
With the funding, Rightware will accelerate development and marketing of Kanzi™ 3D graphical user interface solution for mobile phones and automotive applications as well as Futuremark’s established device performance measurement products and services for mobile and embedded industries.
Kanzi enables manufacturers of mobile phones and automotive display & infotainment systems to create richer and more intuitive user interfaces in radically less time than it takes with conventional tools and methods.
In the deal, all of Futuremark's mobile and embedded IPRs, assets and liabilities are transferred to Rightware. The core team of Righware is comprised of Futuremark’s Mobile and Embedded team and the new company will continue serving all current and future customers with the same degree of unparalleled professionalism as previously.
Rightware’s founder and CEO is Mr. Tero Sarkkinen. He is a graduate of Helsinki School of Economics with a M.Sc. (Econ. and BA) degree. He was previously CEO of Futuremark and has worked in numerous roles both in Europe as well as in Silicon Valley within the mobile and computer industries in a career spanning over a decade. “I am very motivated to take up the mantle of CEO at this new company”, said Tero Sarkkinen, “Rightware is now properly capitalized and has deeply talented staff. Now we’re able to accelerate our product development and sales and hence serve our customers better.”
“Investing in innovative Finnish technology and experienced management team are the key elements behind this investment” said Timo Tirkkonen of Inventure and Chairman of the Board of Rightware. “Rightware has the right technology at the right time to make a significant impact on mobile phone and automotive industries.”
“With growing emphasis on great user experience and interactivity, we believe in the rapid growth of the smartphone and automotive user interface markets. Rightware offers leading players in these industries better solutions, faster time-to-market, and richer user experiences,” said Artturi Tarjanne of Nexit Ventures, member of the Board of Rightware and Chairman of the Board of Futuremark. “This spinoff creates a strong company to pursue this business while Futuremark is able to fully focus on the game development and PC Benchmarks businesses.”
Rightware will also continue Futuremark’s work of developing industry leading system performance analysis tools. Company’s world renowned product portfolio now includes 3DMark®Mobile for OpenGL ES 1.x and OpenGL ES 2.0, VGMark™ for OpenVG 1.x, and SPMark® platform benchmark for Symbian, Android, Windows Mobile, Linux and mobile Java.
For more information, go to www.rightware.com.
About Rightware™
Rightware™ serves the mobile and automotive industries with Kanzi™ solution for rapid user interface design and deployment. Rightware also develops industry leading system performance analysis tools. The world renowned product portfolio includes 3DMark®Mobile for OpenGL ES 1.x and OpenGL ES 2.0, VGMark® for OpenVG 1.x, and SPMark® platform benchmark for Symbian, Android, Windows Mobile, Linux and mobile Java. Rightware is headquartered in Espoo, Finland and has office in Shanghai.
About Inventure
Inventure is a technology investor in early stage companies, actively supporting growth oriented entrepreneurs to internationalize Nordic success stories. Inventure’s entrepreneur driven team works actively with the portfolio companies and brings their knowledge and network’s support. Founded in 2005, Inventure manages funds with over EUR 53 million in total capital base. Examples of Inventure’s portfolio companies are e.g. Whitevector, Freespee, Protie, Scannano, Beneq and Silex Microsystems.
For more information, go to www.inventure.fi.
About Nexit Ventures
Nexit Ventures is a mobile venture capital firm focused on wireless technologies and services. Leveraging its extensive network in the global mobile marketplace, Nexit invests primarily in Nordic and US-based early-stage companies with products and services for a global market. For Nordic mobile companies, Nexit provides a bridge to Silicon Valley markets and exit opportunities. For US-based mobile companies, Nexit brings Nordic and European market insight, customer access, and technology resources. Nexit has helped several companies in either direction of its bridge, and has subsequently realized several successful exits of its portfolio companies in United States, the world’s leading M&A market for technology ventures. Nexit has offices in Helsinki, Stockholm and Silicon Valley.
For further information, please visit www.nexitventures.com.
###© 2009 Rightware Oy. Kanzi™, SPMark®, VGMark® and Mirada® trademarks and logos, Rightware character names and distinctive likenesses are the exclusive property of Rightware Oy. 3DMark trademark is the exclusive property of Futuremark Corporation.
Press Contacts:
Tero Sarkkinen, CEO, Rightware Oy
Phone +358-40-5577887
Email: firstname.lastname@rightware.com
