Intel Capital to invest US$ 12mn in Shanghai Media Group unit

April 10, 2008 – Intel Capital has confirmed it will invest US$ 12mn in Shanghai Media Group’s Broad Band unit for technology research and product development of its IPTV platform.

“Our past experience has proven that Chinese new media, represented by broadband online TV, is transforming the traditional media industry,” said Li Ruigang, President of Shanghai Media Group, in a statement.

Intel Capital is the investment arm of Intel Corp, and last Tuesday it announced a US$ 500mn China investment fund, aimed at wireless broadband, media telecommunications and clean technology companies.  Intel has already announced that it will make investments in Holdfast Online Technology, which has developed a platform that can host third-party operator LAN-based or console games, and video equipment maker Newauto Video Technology.