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PRESS RELEASE: DxO Labs announces the closing of a €10.6 million round of financing to boost its international presence
Leading private equity group Apax Partners leads new investment
Paris, France--January 30, 2006 - DxO Labs, a French software company developing advanced image processing technologies for the mobile imaging industry and other digital consumer imaging markets, today announces the closing of a 10.6 million Euro round of funding. Apax Partners France leads the new investment, joining historic investors including Société Générale Asset Management, SPEF Venture, Thalès Ventures/ACE Management as well as Japanese funds, CSK Venture Capital and Hitachi Venture.
"Apax Partners' investment and international network will help us continue to pursue our aggressive approach to business development in Asia and in the United States and our growth in the digital imaging marketplace," says Jerome Meniere, founder and CEO of DxO Labs. "We will now be able to answer locally the huge customer traction we are experiencing from leading players in this space."
"DxO Labs' core technology consists in mathematically modeling major optics and sensors faults in order to correct them at a software level. This approach enables a reduced bill of materials, while obtaining previously unachievable performance. We believe that this new approach has the capacity to completely revolutionize the digital imaging markets," explains Eddie Misrahi, Partner at Apax Partners France. "Tomorrow's cameraphones or still or video cameras will be cheaper and lighter, while producing perfect image quality. It will take imaging to another level."
About DxO Labs
DxO Labs is a French software company focused on research in applied mathematics for image processing. The company develops embedded software technologies to enhance image quality while reducing the optics and sensor bill of material. The company focuses its business effort on the mobile imaging industry and has just announced its new DxO Digital Optics technology for cameraphones. Other DxO Labs markets include digital consumer imaging markets such as digital camera manufacturers, mobile operators, and serious photographers. The company was founded in 2003 as a spin-off of Vision IQ, a company focused on computer vision for computer aided video surveillance.
About Apax Partners
Apax Partners is one of the world's leading private equity investment groups. It operates across Europe, Israel and the United States and has more than 30 years of investing experience. Funds under the management or advice of Apax Partners total $20 billion around the world. These Funds provide long-term equity financing to build and strengthen world-class companies. Apax Partners Funds invest in companies across its global sectors of Tech & Telecom, Retail & Consumer, Media, Healthcare and Financial & Business Services. The Funds pursue a multi-stage equity investment strategy, investing in buyouts, growth capital and venture.
For more information on DxO Labs, visit DxO Labs online at www.dxo.com
For additional information about Apax Partners, see: www.apax.com
DxO is a registered trademark of DxO Labs. Other trademarks and trade names may be used in this document to refer to either the entities claiming the marks and names or their products. DxO Labs disclaims any proprietary interest in trademarks and trade names other than its own.
(First posted on Tuesday, January 31, 2006 at 15:50 EST)