Mitsubishi Becomes Latest Blue Chip Technology Investor in Tao Group

[Kees]

Tao Group today announced an investment by MC Capital Europe, a wholly owned subsidiary of Mitsubishi Corporation, of approximately $3M following on the $18M investment by
Bowman Capital, Sony, NEC and Sharp (announced in September 2001).



Francis Charig, Executive Chairman of Tao Group, said, "We have been putting together an elite group of investors while strongly developing the company's management and engineering teams, its technology, products and customers. The companies that we have sought to invest into Tao have been those that could add significant shareholder value beyond the financial injection itself. Mitsubishi is certainly a world-class brand, which has exceptional compatibility with Tao, as well as the desire to help in driving our growth."

Yasu Hirao, of MC Capital Europe, said "Our role in Mitsubishi is to invest in companies that will bring a strong return on our investment and that we think we can add value to through our business resources. We've carried out extensive due diligence on Tao in terms of its technology, its partners and its customers and we are extremely confident that Tao is positioned to become a global leader."

[Chathurawind]

And another one jumps on board with TAO and some big bucks. I'd like to hear Amiga Inc making announcments like this.

[Argo]

one for Tao is one for Amiga. Granted it's an investment in Tao, it's bound to have some sort of trickle down effect.

[Chathurawind]

Great news!

Mitsubishi is one of the largest company in Japan. Their group contain more than 1000 companies, from Heavy Industry (Cars, Airplane, Outer Space), Chemical, Financial to electric & electronic.

Perhaps they will use AMIGA DE / Intent on cars, home appliances, and electronic equipments.

Several years ago, they got an agreement with DIGITAL (USA) in manufacturing ALPHA CPU. Unfortunately the project is discontinued.

It is strange that if you ask BOWMAN directly, they will invest in TAO Group, but will NOT invest any single cent in AMIGA Inc.

[Rodney]

First of all who the hell is BOWMAN...

Secondly, there is more money to be made in Tao if Elate/Intent really takes off.. because, they get money of everything they sell, and they also get royalties from Amiga Inc (i would imagine)

third...ly, Amiga Inc aims at a different user than Tao... Amiga Inc mainly aim at the desktop, although it is also able to run on small devices.

[Chathurawind]

>Read the news about Bowman Capital

Bowman is a famous Tech / Dot Com based mutual investment fund company in 2000. But in May 2001, major part of the fund (US$ 2 Billion) was closed after a major loss of approx. US$ 400 M. The fund manager was fired.

They coordinate the investment from several giant Japanese companies in TAO Group.

Their reputation is destroyed, but if they choose to invest in a company, usually the company have a bright future. Apparently they are afraid of the famous AMIGA curse (see the demise of Kouri Capital).