SMAC - Siemens Acceleration in Communications (21 FTE for 24 companies in the portfolio...) is rumored to be shutting down and to plan to sell off its portfolio companies within the next three weeks.
Corporate parent Siemens AG has recently instituted a major restructuring of its information and communications activities. It announced plans to lay off 5,400 employees, reportedly agreed to sell its Product-Related Services business to Fujitsu Siemens Computers and actually paid BenQ Corp. to acquire its money-hemorrhaging mobile handset unit. The shutdown of Siemens Acceleration in Communications is just another part of the restructuring, with the corporate upside of near-immediate liquidity. It is unclear if Siemens also will look to sell some of its other venture capital endeavors, like the Communications Fund unit of Siemens Venture Capital, or its fund of funds portfolio.
SMAC portfolio companies includes 3Dis, UK ; Dblur, Israel ; Exit Games, Germany ; FonJax, USA ; GO Networks, USA/Israel ; Jentro Technologies, Germany ; Ki-Bi Technologies Ltd., Israel ; LinkRich, China ; Magus Soft Ltd., China ; Mobile2win, India/China ; Mobixell, Israel ; MotionBridge, France ; NordNav, Sweden ; Oplayo, Finland ; OverSi, Israel ; PhoneBites, USA ; PurpleACE, Singapore ; Realeyes 3D, France ; Rock Mobile, Taiwan/China ; Scaraboo GmbH, Germany ; SVOX AG, Switzerland ; V-Enable, USA ; Xingtone, USA ; Zero Global, China/USA