Louise Duffy ©RapidTVNews | 04-08-2011
Intel Capital is to invest in Beijing JoySee Technology Co.
Established in 2011 as a subsidiary of China Digital TV, JoySee is engaged in the research and development of high-definition (HD) smart TV/cable smart set-top boxes. The funding from Intel Capital will be used to further develop JoySee's HD smart TV and cable smart set-top box products. Intel Capital will appoint an authorized representative to observe on JoySee's board of directors.
Jianhua Zhu, Chairman and CEO of China Digital TV, said: "We are delighted to work with Intel Capital on JoySee, which is developing the next generation of smart TV and cable smart STB products in China. This investment deepens our strategic collaboration with Intel, strengthens our shared vision for the future of digital TV in China and builds on our cooperation that started in 2008, which integrated our CA solution with Intel's media processor technology.
"Intel has unparalleled expertise in innovative technologies, marketing channels and a track record of innovative excellence. Together with our superior CA technology, and smart TV and cable smart STB design knowledge, this business collaboration with Intel will enable us to create advanced, highly secure and reliable high-definition home entertainment products."
Arvind Sodhani, Executive Vice President of Intel and President of Intel Capital, added: "The Triple-play convergence in China is an exciting opportunity for Intel to participate in and help develop a next generation network. The investment in JoySee is part of Intel Capital's efforts to further expand China's smart TV capabilities, as well as to enrich people's lives through new functionalities and compelling services."