Axel Technologies and Symbio Partner to Accelerate Fuugo's Global Market Entry

Axel Technologies and Symbio Partner to Accelerate Fuugo's Global Market Entry

Joint effort collaborates on innovation and resources

TURKU, Finland, May 24 /PRNewswire-Asia/ -- Axel Technologies, a pioneer in mobile TV software technologies, today announced it has partnered with Symbio, a leading innovator of outsourced product development solutions worldwide to accelerate R&D for Axel Technologies' Fuugo(TM), the next generation TV application for mobile and portable devices, enabling faster global market entry.

The strategic partnership with Symbio is part of Axel Technologies' latest investment round with existing investors Nexit Ventures and Finnish Industry Investment Ltd. In addition to new financing, Axel is strengthening its business with a reliable co-creation partner that extends and enhances its R&D, integration and support capabilities. Symbio's robust mobile, Android and multimedia integration and global technical support expertise frees Axel Technologies to focus on innovative product development and grow the business.

"This is a great opportunity for Axel to accelerate our growth and focus on global plans for Fuugo(TM). With Symbio's experienced software specialists on board we can deliver new projects quicker and offer the best support to our existing customers," explained Petri Kalske, CEO of Axel Technologies. "Fuugo has already gained a tremendous amount of global interest and with this partnership, we can proceed with our plans for a commercial launch later this year."

"Symbio is very excited to partner with Axel Technologies as we are both passionate about making the digital convergence between communications and technology a reality," said Jacob Hsu, CEO of Symbio. "Axel's Fuugo is a perfect example of how converged technology transforms the way we consume media and communicate with social networks. We are delighted to play a strategic co-creative role in enabling Axel to expand its presence globally."

Fuugo(TM) is the first TV application for personalising a content stream by blending content choices from broadcast TV, mobile TV, Internet videos and social media. Fuugo(TM) is optimised for a range of mobile and portable devices enabling consumers to enjoy personalised TV content on-the-go. Fuugo(TM) has been designed with the end-user in mind making it the most user-friendly TV and Video application in the market.

For more information:

Axel Technologies
Petri Kalske, CEO
Tel +358 400 638 880
petri.kalske@axel.fi
www.fuugo.tv
www.axel.fi

Symbio
Ilona Mohacsi
Abelson Group for Symbio
Tel +1 631 764 3729
ilona@abelsongroup.com
www.symbio.com

About Axel Technologies

Axel Technologies is the leading mobile TV software vendor and inventor of Fuugo(TM). Axel offers TV applications for mobile, handheld and portable devices as well as drives the convergence of media consumption via Telefusion. Axel Technologies is headquartered in Finland and has sales support offices in Hong Kong, Taipei, Munich and Santa Clara, US. www.axel.fi, www.fuugo.tv

About Symbio

Symbio provides advanced software product development and user experience design services to the world's technology leaders. Symbio specializes in feature-rich software products for companies embracing the digital convergence transformation in communications and technology. By leveraging its deep expertise in mobile, embedded, Web-based, enterprise and user experience driven technologies, Symbio enables its clients to focus on their core competencies while building mission-critical technologies and products to sustain, speed and secure the long-term success for the business. World-leading companies like China Mobile, IBM, PayPal and Nokia already rely on Symbio for faster, innovative, and highly cost-effective technology outsourcing. With global headquarters in Beijing, China, San Jose, USA, Stockholm, Sweden and Tampere, Finland, Symbio is the outsourced product development partner companies trust to deliver truly integrated global software development with local touchpoints in the client's home market. For more information about Symbio, visit www.symbio.com.

Source: Symbio

CONTACT: Petri Kalske, CEO, Axel Technologies, +358-400-638-880,
petri.kalske@axel.fi; or Ilona Mohacsi, Abelson Group for Symbio,
+1-631-764-3729, ilona@abelsongroup.com

Web Site: http://www.symbio.com/

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