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Prelude Trust plc Invests $9 Million in Wireless Video Technology

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Arthur D. Little, one of the world's premier management and technology consulting firms, has launched Alphamosaic, a new mobile video company that promises to make low-cost, low-power video available for wireless devices in the near term.

The launch of Alphamosaic coincides with a $9 million venture capital investment in the company by Prelude Trust plc. Alphamosaic will use the funds to commercialize its proprietary wireless video technology called VideoCore, which allows a wide range of new video functions for mobile devices, including cell phones and Personal Digital Assistants (PDAs).

The technology was developed at Arthur D. Little's European technology arm Cambridge Consultants Limited (CCL(R)), which is headquartered in Cambridge, England. Alphamosaic will also be headquartered in Cambridge.

"We have developed the technology that everyone has been asking for - a low-cost, low-power method of transmitting video through cell phones, PDAs and any other wireless devices," said Robert Swann, co-founder of Alphamosaic. "As wireless devices become more prevalent, the public is demanding even greater flexibility and functionality while they're on the road. The market is already sold on options like text messaging and wireless Internet, and it's only a matter of time before it embraces wireless video as well."

Recent research forecasts that by 2005, 92 percent of U.S. households will use "personal rich media" (audio & video clips) regularly. On a larger scale, key industry players predict that by 2004, camera-enabled handsets will account for 20-50 percent of the global phone market.

Alphamosaic's new VideoCore technology will allow users to conduct a wide range of functions through their wireless devices, including monitoring their homes while travelling, sending video postcards to friends, and holding high-quality video conference calls while on the move.

"Alphamosaic has the potential to revolutionize the way mobile video is perceived in today's market," said Alan Duncan, Director at Prelude. "This company has all the characteristics that Prelude looks for in its investments: a world-class technical team coupled with proprietary technology that meets a global market opportunity."

# posted by Medical Information : 5:55 AM