Advanced Media Acquires Internet Consumer Appliance Venture, Glamo / VentureNow

A voice recognition technology company, Advanced Media acquires 228,000 stocks of Glamo with 150 million yen to subsidizes a startup, which develops iRemocon enabling to control home appliances such as air conditioner or lighting with a smartphone. By adding its original voice recognition technology on iRemocon, users can control appliances by voice. ...

Glamo was founded on February 2nd, 2011. At Innovation Weekend Grand Finale 2011, a startup pitch contest held on December of the same year, the company got the grand champion award. The recent operating result ending January 2013 was 98 million yen of revenue with 11 million yen of net income.

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VentureNow 9/25/2013 [jp]

memo

• Advanced Media was founded in 1997 and went IPO in 2005. It looks a good acquisition for Advanced Media to add another application on top of its technology.
• http://glamo.co.jp/
• http://www.advanced-media.co.jp/