Paladin invests in companies that can play an important role in protecting the nation's critical infrastructure with a focus on companies whose solutions are capable of having an immediate impact. The firm's management includes the former Director of the Central Intelligence Agency (CIA), the former Director of the National Security Agency (NSA), and the former Deputy Director of the Defense Advanced Research Projects Agency (DARPA). Paladin Principal Niloo Howe, who will join the OQO Board of Directors, commented, "as the only pocketable fully functional Windows XP PC on the market, the OQO ultra personal computer is already a key component in a variety of Homeland Security projects. We see tremendous potential for OQO in the government sector, in addition to the broader enterprise market."
"OQO is pleased to add to our world-class group of institutional investors," said Jory Bell, OQO's CEO. "Paladin's deep insight into government and other specialized market segments will prove invaluable as we continue to grow and diversify our business, while Motorola's participation aligns OQO with a leader in wireless telecommunications."
"With its unique technology and commitment to revolutionizing personal computing, OQO is an outstanding addition to Motorola's portfolio of technology investments," said Warren Holtsberg, corporate vice president, equity investments, of Motorola Ventures. "By facilitating the development of next generation pocketable computers, Motorola's strategic investment will advance our goal of bringing seamless mobility to wireless users."
Lt. General (Ret.) Kenneth A. Minihan, a Paladin Principal and former Director of the NSA, noted, "OQO is uniquely positioned to extend computational power and critical information deeper into field operations than ever before. Whether in military, first responder or enterprise environments, OQO's personal computers are a vital resource to those on the move throughout the organization."
The funding comes on the heels of the OQO's release of the model 01+, an upgrade to the model 01 ultra personal computer, the first pocketable Windows XP personal computer to hit the market. OQO board member and Founding General Partner of Azure Capital Partners Mike Kwatinetz stated, "With the launch of its second product, the 01+, OQO has established itself as the industry leader in pocketable Windows XP computing. Given that over 400 corporate and government entities are already customers, Azure believes that 2006 will be the year the category emerges. And we expect the world-class R&D team at OQO to drive the category forward through continued innovation."
About Paladin Capital Group
Headquartered in Washington D.C., Paladin Capital Group is a premier private equity firm that provides expansion capital for growing companies. Paladin's Homeland Security Fund invests in enterprises whose principal business centers on products and services that address homeland security issues and needs. Importantly, the fund's leadership is comprised of individuals with a proven track record of financial expertise, national security experience and specialized technical competence. For more information please visit http://www.paladincapgroup.com /.
About Azure Capital Partners
Azure Capital Partners is a venture capital firm with over $500 million under management, headquartered in San Francisco, California. Our goal is to identify, invest in and help build earlier stage information technology companies that are at the forefront of a transformative opportunity for growth. Our partners have a long track record of identifying and helping to build some of the most successful companies in communications, software and related technology segments. The Azure team is recognized for industry thought leadership and a unique professional investment approach to venture investing. Our proven methodology and primary research enable us to identify young companies in attractive markets whose business models provide sustainable competitive advantage.
About Motorola Ventures
Motorola Ventures (MV) is the global, strategic venture capital investment arm of Motorola, Inc. MV actively invests at all stages in developing companies of strategic value to Motorola in order to accelerate access to new technologies, new markets and new talent. For more information: www.motorola.com/ventures .
About Motorola
Motorola is a Fortune 100 global communications leader that provides seamless mobility products and solutions across broadband, embedded systems and wireless networks. In your home, auto, workplace and all spaces in between, seamless mobility means you can reach the people, things and information you need, anywhere, anytime. Seamless mobility harnesses the power of technology convergence and enables smarter, faster, cost-effective and flexible communication. Motorola had sales of US $31.3 billion in 2004. For more information: www.motorola.com.
About OQO
Based in San Francisco, California, OQO, Inc. has developed the OQO model 01+ ultra personal computer (uPC), a full-powered, full-featured personal computer running Microsoft Windows XP in a pocketable form factor.
Jory Bell and Jonathan Betts-LaCroix founded the company in 2000, along with a core group of engineers and product designers, and set out to shrink a Windows XP computer into a pocketable device. Their vision was to transform personal computing in the way cell phones revolutionized telecommunications. For more information please visit oqo.com.
Follow us on Twitter!