Group Sense (International) has entered into a strategic relationship with Intel, Softbank and UTStarcom through which the companies will invest US$10.5 million in its personal digital assistant (PDA) subsidiary.
Group Sense PDA (GSPDA), has also entered into a collaboration with Intel whereby certain Intel products and technologies will be integrated into some of GSPDA's products.
GSPDA is to sell 16 per cent of its enlarged share capital in the form of 171,818 voting convertible preferred shares to Intel Capital, a subsidiary of Intel; SB China, a unit of Japan's Softbank; and UTStarcom, a Nasdaq-listed company that designs and manufactures communications equipment for wireless service providers.
The strategic relationship, according to Group Sense executive director William Lo, would provide the group with key microprocessor, wireless communication and multimedia technology and a wide connection to potential technology and business partners to further develop its PDA.
'Intel's involvement also serves as an endorsement on our quality control and research and development and will enable us to attract further investment and business opportunities,' he said.
Group Sense also plans to release its new GSM PDA model, which integrates both voice and data communication to serve as a PDA and mobile phone, next month. Its shares were suspended on Tuesday but resumed today to rise by up to 24.1 per cent, closing up 5.17 per cent at 30.5 HK cents.