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Ibiquity Gains Investment Money

Ibiquity Gains Investment Money

Intel Capital, Intel’s strategic investment program, has invested in Ibiquity. Financial terms were not disclosed.
Ibiquity President/CEO Bob Struble said the funding boost would help the company accelerate commercialization of HD Radio, particularly in the area of portable devices, such as mobile phones and digital media players.
Sriram Viswanathan, managing director for Intel Capital’s Mobility investments, said his company is interested in opportunities “to enable affordable, portable and low-power digital media devices” including HD Radio.
Ibiquity’s investor list includes 15 broadcasters including ABC, Clear Channel and Viacom; financial institutions, such as Grotech Capital Group, J.P. Morgan Partners, New Venture Partners, Pequot Capital and J&W Seligman; and strategic partners Ford Motor Company, Harris, Texas Instruments and Visteon.