Braveheart Investments Regulatory News (BRH)

13 Aug 2007 07:00

Braveheart Investment Group plc13 August 2007 13 August 2007 Braveheart Investment Group plc ("Braveheart", the "Group" or the "Company") Investment of £600,000 in Inxstor Braveheart (AIM: BRH), a technology commercialisation and investment managementcompany, announces that it has made an investment in Inxstor Limited, a businessinvolved in developing technology for the place-shifting market. The £600,000 investment from Braveheart, its clients and the ScottishCo-investment Fund, follows a seed funding round of c£400,000, in 2006 whichBraveheart also participated in. Inxstor was formed last year as a spin-out fromInfinite Data Storage ('IDS'), another Braveheart portfolio company. IDS designsportable data storage devices for the consumer electronics market. Place-shifting allows the user to watch TV shows they usually receive at home,whilst in any location on devices other than TV sets (such as mobile phones). Itis an advanced form of time-shifting, where a programme can be recorded andviewed at a time more convenient to the user (such as the service offered by SkyPlus). With place-shifting, images and sound from home video equipment areprocessed into digital signals and transmitted to the new viewing location overthe home internet connection. Place-shifting is an emerging market and is likelyto be attractive to people who spend time away from their primary place ofresidence. Inxstor's technology is believed to be the only place-shifting solution thatallows digital content to be accessed from a remote location in a secure way.The company's products include software to access and transfer the audio andvideo content from the home, and software to access this content on a mobiledevice. The company will target key market areas in the value chain to offer acomplete 'end-to-end' solution. The proceeds of the fundraising will provide working capital for Inxstor for thenext 12 months, supporting the expansion of its technical team and productdevelopment process. Commenting on the investment, Geoffrey Thomson, Chief Executive of Braveheart,said, "Mobile technologies are becoming very much more sophisticated. In anincreasingly mobile world, we see the demand for place-shifting technology asgrowing significantly in the future. Inxstor's technology, the only secureproduct of its kind in the market, offers users the 'next step' on fromuniversally popular applications such as TiVO and Sky Plus." Tony Combe, CEO at Inxstor, added, "Since spinning out from IDS, we have made good progress in the development of our technology. Content providers need to know that their data is secure and that distribution can be controlled - our technology addresses these key issues. We now have working prototypes and we arein discussions with a number of multi-nationals about rolling out the product." For further information, contact: Braveheart Investment Group Tavistock Communications InxstorGeoffrey Thomson Rachel Drysdale Tony CombeChief Executive Simon Hudson CEOTel: 01738 587555 Tel: 020 7920 3150 Tel: 0131 225 5132 rdrysdale@tavistock.co.uk This information is provided by RNS The company news service from the London Stock Exchange