Intel Capital, the corporate venturing unit of the eponymous US-based chip manufacturer, has sold its stake in mobile internet and telecommunications operator Vmax to Taiwan-based network operator Vee Time.
The price Vee Time paid for Intel Capital’s stake is undisclosed. Intel owned a 19% stake in Vmax, and Vee Time acquired another 39% held by Taiwan-based telecommunications company Vibo Telecom. Intel acquired its stake for $11.5m in October 2008.
Separately, US-based Verismo Networks, an internet television platform backed by Intel in a $17m round that closed in November, has acquired the entertainment holding company Digital Entertainment Corporation of India (DECI).
Verismo has acquired DECI with a view to converting it into Verismo’s new entertainment business unit. DECI worked primarily as a holding company which launched global entertainment services.
DECI’s founder, Sab Kanaujia, will head up the new Verismo unit as president of entertainment services and will be responsible for content acquisition, product, operations, marketing and distribution.
Kanaujia previously held prominent roles at US-based entertainment content conglomerates NBC Universal and Time Warner AOL before its demerger. He said: "With a globally deployed broadband entertainment platform, an opportunity to partner with a seasoned entrepreneur in [Verismo chairman Prakash] Bhalerao and strong backing of a blue chip investor like Intel Capital, I am delighted to join the Verismo team at a crucial stage in its growth phase."