Emblaze buys into Korean mobile phone designer

Israeli design firm Emblaze Mobile is investing $46 million over the next three years in Innostream, one of South Korea’s leading developers of multimedia mobile handsets.
Emblaze will provide $15 million in cash immediately for inventory and working capital. Innostream specializes in developing customized, mid-range and high-end handsets on a contract basis for several operators. It also creates its own brands.
Jerusalem Post: Emblaze will pay an initial $15m. cash infusion to the Korean company for inventory and working capital needs, and a further $31m. over three years to give it a 60 percent majority share in Innostream. The remaining 40% will be retained by Innostream.

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