Petach-Tikva, Israel. February 27, 2012 - Lenovo Group
announced today its commitment to invest in Vertex Venture Capital’s new
VC fund as part of Lenovo’s strategy to strengthen its presence in
Israel. The Company will make a significant investment in Vertex Venture
Capital to pursue new development opportunities in the areas of fixed
and mobile broadband communications, digital media technology and
applications, enterprise IT and infrastructure and greentech.
“We
have a very strong position in Israel that mirrors our worldwide
results. Lenovo is the number one provider of commercial laptop PCs in
the country and the second largest PC vendor overall” said George He,
Lenovo Senior Vice President and Chief Technology Officer. “The
investment in Vertex is aimed to continue our expansion in Israel by
building a solid R&D presence in the country. We firmly believe in
the great potential inherent in combining the innovative technology and
entrepreneurship of Israel-based companies with Lenovo’s global
presence."
Ehud Levy, Managing Partner at
Vertex Venture Capital said, “We are delighted to welcome Lenovo to our
family of global investors. There is tremendous synergy between our
investment focus and Lenovo’s long-term business goals. We believe that
our strategic partnership with Lenovo will significantly contribute to
the further success of our companies as well as bolster the local
Israeli high tech sector. Based on our history since inception over 15
years ago, we are confident that this relationship will prove to be a
win-win-win situation: for Lenovo, for Vertex’s portfolio companies and
for Vertex’s fund”.
About Lenovo
Lenovo
(HKSE: 992) (ADR: LNVGY) is a $US21 billion personal technology company
serving customers in more than 160 countries, and the world’s
second-largest PC vendor. Dedicated to building exceptionally engineered
PCs and mobile internet devices, Lenovo’s business is built on product
innovation, a highly-efficient global supply chain and strong strategic
execution. Formed by Lenovo Group’s acquisition of the former IBM
Personal Computing Division, the company develops, manufactures and
markets reliable, high-quality, secure and easy-to-use technology
products and services. Its product lines include legendary Think-branded
commercial PCs and Idea-branded consumer PCs, as well as servers,
workstations, and a family of mobile internet devices, including tablets
and smart phones. Lenovo has major research centers in Yamato, Japan;
Beijing, Shanghai and Shenzhen, China; and Raleigh, North Carolina. For
more information see www.lenovo.com
About Vertex Venture Capital
Vertex
Venture Capital, a top-tier Israeli VC with $600 million under
management, has an experienced multi-disciplinary team of professionals,
an impressive track record of exits through M&A and IPO and a
strong international base of financial and strategic investors. Vertex
opens doors for its portfolio companies to penetrate markets and find
partners and customers in Asia, Israel, North America and Europe. Vertex
was founded in 1997 and invests in high technology companies in the
areas of fixed and mobile broadband communications, digital media
technology and applications, enterprise IT and infrastructure and
greentech. For more information, please visit: http://www.VertexVC.com.
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