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IMMEDIATE RELEASE

Motorola
Makes Strategic Investment in ViVOtech
SCHAUMBURG, IL and SANTA CLARA, CA – November 12,
2007 – Motorola, Inc. (NYSE:MOT) through its Motorola
Ventures strategic venture capital arm, today announced that it
has made an equity investment in ViVOtech Inc., an acknowledged
leader in contactless and mobile phone payment technologies. Financial
terms of the deal were not disclosed.
Unlike
other contactless technology offerings available on the mobile application
market today, ViVOtech's platform is designed for easy collaboration
among issuers, mobile operators and technology providers to deliver
the most intuitive and integrated consumer experience across a range
of new customer services.
“Motorola
continues to invest in new technologies that enable consumers to
expand the value and functionality of the mobile phone.” says
Reese Schroeder, managing director, Motorola Ventures. “This
investment reflects Motorola's commitment to building and participating
in a world class mobile commerce ecosystem.”
“ViVOtech
creates more value for financial institutions and retailers by enabling
the electronic payment transaction process,” said Michael
Mullagh, ViVOtech’s chief executive officer. “Our platform
is transforming the way consumers spend money, make payments and
purchases – making it so simple that any mobile phone user
can securely and easily buy items with a simple wave of the mobile
device at one of our NFC-powered contactless readers.”
As
today’s on-the-go consumers are looking for simplified and
more secure ways to pay for goods and services, the personal mobile
device has taken on a new role. Near Field Communication (NFC) technology
is broadening the usefulness of mobile devices through short-range
wireless connectivity which enables the phone to interact with payment
systems for a wide variety of transactions, including those at the
point-of-sale, ATMs and kiosks. Additionally, this connectivity
allows for location-based personalized loyalty, coupon and promotion
programs, and user authentication for check-in at airline and hotel
self-service stations. ViVOtech’s comprehensive NFC technology
offerings enable these new mobile features to provide best-in-class
payment transactions at merchant locations all over the world.
About ViVOtech
ViVOtech is the market leader in Near Field Communication (NFC)
mobile payments, promotions, and over the air (OTA) provisioning
infrastructure software, transaction management software, NFC smart
posters, and Contactless terminals. These innovative solutions allow
millions of consumers to make Contactless payments with radio frequency-enabled
credit/debit cards, fobs, and NFC mobile phones. ViVOtech's products
are used by the most prominent retailers all over the world. With
more than 330,000 units deployed in 27 countries, ViVOtech products
are used at movie theaters, fast food restaurants (QSR), casual
dining establishments, convenience stores, gas stations, drug stores,
grocery stores, buses, taxicabs, kiosks and vending machines, enabling
a wide variety of businesses to accept Contactless/NFC payments
and promotions. In addition to Motorola, ViVOtech’s investors
include First Data Corporation, NCR, Nokia, Alloy Ventures, Draper
Fisher Jurvetson, DFJ Gotham Ventures, Miven Venture Partners, and
an undisclosed Fortune 500 company.For more information about ViVOtech’s
innovative solutions please visit http://www.vivotech.com.
About Motorola
Motorola is known around the world for innovation and leadership
in wireless and broadband communications. Inspired by our vision
of seamless mobility, the people of Motorola are committed to helping
you connect simply and seamlessly to the people, information, and
entertainment that you want and need. We do this by designing and
delivering "must have" products, "must do" experiences
and powerful networks -- along with a full complement of support
services. A Fortune 100 company with global presence and impact,
Motorola had sales of US $42.8 billion in 2006. For more information
about our company, our people and our innovations, please visit
http://www.Motorola.com.
Media
Contacts:
Kristin Miller
SSPR for ViVOtech
+1-719-634-8292
kmiller@sspr.com
Kristine
Mulford
Motorola, Inc.
+1-847-576-4506
Kristine.mulford@motorola.com
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