NEW YORK-Motorola Ventures acquired a stake in Asylum Telecom L.L.C., an Internet-based communications company with clients in 25 countries.
The investment arm of Motorola Inc. declined to disclose terms of the investment, which was made in the form of a convertible secured note.
Asylum, a 2-year-old New York-based company, provides Internet communications technology including voice virtual private networks, converged GSM/IP mobile and instant messaging. The company said it will use the capital for research and development to increase communications efficiencies while driving down end-user costs.
“Our decision to invest in Asylum was driven by their innovative approach to VoIP and their ability to deliver a seamless user experience,” said John O’Donohue, a managing director of Motorola Ventures. “It is our first venture investment in a company having a significant R&D and support facility in Hungary, and the depth of engineering talent has impressed us.”
