ASOCS secures new round of funding, signs representation agreement with Forum Group

ROSH HA'AYIN, ISRAEL: Forum International Equity Fund lead ASOCS new round of financing alongside ASOCS existing investors.

The Forum Group will boost ASOCS entry into new markets, primarily in Asia pacific utilizing Forum Group's experienced team responsible for creating its MVNE/MVMO platform - Forum Mobile and Forum Tel, as well as, the group's strategic connections in the region.

ASOCS, the leading developer of wireless MultiComms(TM) processors and system solutions for handheld devices announced today that it has concluded a new round of equity financing lead by Forum International Equity Fund. The Group will provide ASOCS with a myriad of opportunities including access into new market segments focusing on wireless networks in Asia Pacific as well as strategic inroads to technology powerhouses in the region and beyond.

"ASOCS is poised to become one of the gems of our new equity fund," said Ami Segal, the Forum Group founder and president. "ASOCS is run by a top notch management and technical team, with a truly innovative technology and above all, a vast and fast growing market opportunity in the realm of Software Defined Radio."

"We are proud to have the forum group on board, both as a business partner and a shareholder," said Gilad Garon, Co-Founder and CEO of ASOCS. "The forum group brings to the table, alongside financial support, valuable business know-how, relevant market understanding and strong inroads to key partners, all relevant and strategic to ASOCS. The company will benefit from the Group's MVNE/MVNO operations as yet another vehicle for our cellular solutions in the domain of GSM, TD-SCDMA, and mobile television solutions."

The ASOCS MP100 MultiComms processor introduces a revolutionary approach to wireless communication - a single chip running multiple software-reconfigurable modems concurrently providing low latency air-interface switching, minimal power consumption, and enabling user-transparent access to the internet.

ASOCS has recently announced a reference design targeted at the new China Mobile network. ASOCS has already introduced together with partners a Mobile TV (CMMB), GSM and 3G (TD-SCDMA) all in one data card exclusively for that market.