ARLINGTON, Va. & SAN RAMON, Calif. ---The Consumer Electronics Association (CEA), the trade association promoting growth in the $172 billion U.S. consumer electronics industry, has acquired a stake in privately-held Global Inventures, Inc. Inventures specializes in forming, launching and managing industry alliances across the high tech, clean/green energy and healthcare markets and in developing technology ecosystems focused on delivering standardized products and solutions to the market.
"This strategic investment is the logical next step in CEA's relationship with Inventures,' stated Gary Shapiro, CEA's president and CEO. "The investment complements our efforts to encourage innovation and bring to market new industry standards and products by increasing our work with emerging technologies for networked consumer electronics and devices. CEA's investment with Inventures is significant financially and gives us minority ownership. It reflects our respect for Inventures' expertise and global approach to advancing innovation.'
This agreement between CEA and Inventures exhibits the mutual interest in growing the technology industry by bringing together and aligning public and private industry stakeholders, including equipment and device manufacturers, service providers, software developers, system integrators, academic and research institutions and consumers. CEA brings unprecedented scope and scale through its ANSI-accredited standards development system, legislative advocacy, market research, technical training and education, industry promotion, and the International CES, the world's largest consumer technology trade show. Inventures brings more than 15 years of experience and collaboration expertise, management services and best practices required to drive successful technology and market development.
"This investment is a game-changing event,' stated Deepak Kamlani, Inventures president and CEO. "Collaboration is increasingly necessary in an era shaped by rapid innovation, global markets, and pervasive connectivity of people, devices, and services. The new standards and solutions we have helped our clients develop over the years represent a strong foundation for sustained success. Our strategic partnership with CEA will help our clients amplify their footprint and desired results by tapping into CEA's vast resources, and enable us to drive our expansion and growth and harvest new opportunities globally.'
Inventures will continue to operate as a privately held firm from its U.S. West Coast headquarters, while linking to the U.S. East Coast via CEA's Virginia offices. Effective immediately, Inventures clients will have access to CEA's ANSI/CEA standards development services, industry events and trade shows that are essential to market and launch new technologies. CEA members will have access to Inventures' emerging technology and ecosystem building expertise. The parties expect to develop and announce joint programs and services during the next year.
Inventures, Inc. www.inventures.com.
The Consumer Electronics Association (CEA) www.CE.org.
For a complete version of the BUSINESS WIRE press release: http://www.businesswire.com/news/home/20091013005226/en
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