Press Release

MTI invests in Java™ enabled microprocessor technology

28th March 2000, London - - MTI, the UK's leading early-stage hi-tech venture capital investor, announced today that it has completed an investment in Digital Communication Technologies Limited ("DCT"), a Surrey-based business that has developed a unique technology that allows low-cost embedded microchips to run Java™ applications cost-effectively.

Java™ is the de facto standard language of the web, being deployed in virtually all devices that need a web communications facility from PC's and PDA's to mobile phones. However, to date, the costs associated with using Java™ technology have limited its uptake in a wider range of applications such as the cars and domestic appliances (e.g. the 'smart' refrigerator). DCT's technology materially reduces the cost of supporting Java™ and network communications in the microchips used in such lower end devices.

Although DCT is at an early stage of its development, prototypes using its technology have already been produced and patent applications are in progress, and the company is already generating serious corporate interest. The cornerstone investment received from MTI will enable the management to accelerate the company's growth.

Commenting on the investment Dr Paul Castle, Chief Executive of MTI, said:
"DCT is a rapidly expanding company in a fast moving market. MTI's investment will enable the management to exploit opportunities to grow the business. We believe that the DCT has the potential to become a global provider of Java™ enabled microprocessor technology and we look forward to working with the company to achieve that goal."

CEO and co-founder of DCT, Chris Turner, added:
"We reached a point in our development where we needed to additional capital to drive the business forward, and in a dynamic market like ours we needed to move quickly. The deal was completed from start to finish in only four weeks, demonstrating that MTI recognised immediately the future potential of the business and were committed to getting the deal done in "Internet time".

 

 

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