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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 174.69

0.0%

Dec 24 12:59 PM EST

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To: Craig Schilling who started this subject	3/27/2001 2:34:49 PM
From: Ruffian	of 152472

U.S., Swedish Mobile Internet Financiers Team Up SAN FRANCISCO (Reuters) - Telecommunications venture firm ideaEDGE Ventures and venture capital firm Startupfactory on Tuesday said they entered into a partnership to support mobile Internet start-ups worldwide. IdeaEDGE chairman and managing partner Dan Pittard in a statement said the partnership will at first help the San Diego, Calif.-based company tap Stockholm, Sweden-based Startupfactory's expertise and local contacts. ``This partnership expands ideaEDGE's presence into the Nordic geography, one of Europe's fastest growing wireless technology markets,'' Pittard said. Last month ideaEDGE formed a joint venture with India-based Satyam Computers Ltd. (SATY.BO) to provide services to emerging mobile Internet service providers worldwide. According to an ideaEDGE spokeswoman, Startupfactory entered into the partnership announced Tuesday in order to expand beyond Scandinavia to larger markets where mobile Internet technology is not as advanced. The spokeswoman did not disclose details of the partnership agreement but told Reuters that the partnership will allow the two companies to co-invest in start-ups as well as share market intelligence and resources. Led by former Ericsson (news - web sites) (LMEb.ST), Microsoft Corp. (NasdaqNM:MSFT - news) and Nokia (news - web sites) (NOK1V.HE) executives and backed by Investor AB, Sweden's largest investment company, Startupfactory has launched a number of mobile Internet companies. Formed in early 2000, IdeaEDGE has received funding from Investor AB as well as QUALCOMM Inc. (NasdaqNM:QCOM - news). IdeaEDGE has so far created two companies and is currently working toward launching another two companies.

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