Siemens invests in GlooLabs

October 28, 2005

Siemens said Friday it will invest in GlooLabs to bolster personal media data technology.

The German electronics giant said by pumping money into GlooLabs of Palo Alto, Calif., it will be able to improve the convergence of the personal computer with home entertainment products.

"GlooLabs has a very unique position in the crowded field of multimedia services and solutions," Dietrich Ulmer, chief executive of Siemens Acceleration in Communications, said in a news release. "Their approach has received immediate, positive response from both the market and the fixed network unit of the Siemens Communications Group," he added.

GlooLabs has developed GlooNet, which is a multimedia platform for remote access services that facilitates the use of technology in remote locations.

Copyright 2005 by United Press International

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