BWI: Location-Sensing Technology Company Gets Rediff.com’s Investment

Press release from Business Wire India
Source: Rediff.com India Ltd
Friday, October 30, 2009 05:00 PM IST (11:30 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Banking & financial services, Business services, Financial Analyst, Information technology; Technology
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Location-Sensing Technology Company Gets Rediff.com's Investment
Rediff.com has taken a Minority Interest in Location-enabling Technologies Company, Imere

Mumbai, Maharashtra, India, Friday, October 30, 2009 -- (Business Wire India) -- Imere Technologies Pvt. Ltd., a Bangalore based company has got backing from India's leading online portal, Rediff.com India Ltd (NASDAQ: REDF), both in terms of capital and as a platform.

Imere brings location-awareness to applications and provides a host of comprehensive geospatial features for cutting-edge mobile and internet location-based services. Imere's technologies work without the need for GPS on mobile phones. On the internet, Imere endeavors to bring high levels of user location accuracy without entirely being dependant on IP addresses.

Ajit Balakrishnan, Chairman and CEO, Rediff.com said "Location-awareness in applications is critical for hyper-local search and local advertising besides many evolving social networking and enterprise applications. Imere's technology is very cost effective in delivering location awareness."

"The investment from Rediff will not only help us achieve our goals, but also is strategically very important for the company" said Anil Mathews, founder of Imere. Imere's location technologies will enable the creation of innovative and enhanced user experiences as the market adopts the power of location, he added.

Imere uses Cell-ID, Wi-Fi, GPS, IP Addresses and proprietary algorithms in its technologies, bringing best in class location accuracy for both mobile and internet applications. Imere will be initially focusing on the emerging domestic market before going global.

About Rediff

Rediff.com (Nasdaq: REDF) is one of the premier worldwide online providers of news, information, communication, entertainment and shopping service.

Rediff.com provides a platform for Indians worldwide to connect with one another online. Rediff.com is committed to offering a personalized and secure user experience. Founded in 1996, Rediff.com is headquartered in Mumbai, India, with offices in New Delhi, Bangalore, Chennai, Hyderabad and New York, USA

About Imere

Imere is a technology platform that brings location-awareness to applications. Imere's technologies gives service providers and application developers the ability to quickly and easily location-enable their applications. Imere also provides integrated digital maps and database content drawn from multiple sources for fast and accurate access to the user. Imere is a privately held company headquartered in Bangalore and more information can be found online at http://www.imere.com.

Safe Harbor

Except for historical information and discussions contained herein, statements included in this release may constitute "forward-looking statements." These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those that may be projected by these forward looking statements. These risks and uncertainties include but are not limited to the slowdown in the U.S. and Indian economies and in the sectors in which our clients are based, the slowdown in the Internet and IT sectors world-wide, competition, success of our past and future acquisitions, attracting, recruiting and retaining highly skilled employees, technology, legal and regulatory policy, managing risks associated with customer products, the wide spread acceptance of the Internet as well as other risks detailed in the reports filed by Rediff.com India Limited with the U.S. Securities and Exchange Commission. Rediff.com India Limited and its subsidiaries may, from time to time, make additional written and oral forward-looking statements, including statements contained in its filings with the U.S. Securities and Exchange Commission and its reports to shareholders. Rediff.com India Limited does not undertake to update any forward-looking statement that may be made from time to time by it or on its behalf.


CONTACT DETAILS
Mandar Narvekar, Rediff.com India Ltd, +91 (22) 24449144, mandarn@rediff.co.in

KEYWORDS
CONSUMER, MARKETING, BANKING, BUSINESS SERVICES, Financial Analyst, IT, TECHNOLOGY

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