Movea (France) - Jan 2008

I-Source Gestion and GIMV co-led a €7.3m first round of financing in start-up Movea investing €5m of the total sum between them. Rounding up the remaining €2.3m invested were Thomson SA via its subsidiary Thomson Multimedia Sales International and the French research institute CEA through its subsidiary CEA Valorization. Movea also announced completing the asset acquisition of Gyration inc. from investor Thomson.

Company

Grenoble-based technology start up Movea was founded in 2007. The company specialises in the developing and commercialisation of motion-based solutions for the digital life experience to simplify human-digital interface paradigm. The technology is targeted at both the consumer electronics and healthcare markets. The deal facilitated Movea’s purchase of Gyration from investor Thomson. Gyration focuses on a different type of motion sensor which detects in-air motion controls and immediately translates natural hand movements onto screen a screen. Gyration recorded a turnover of around $15m in 2007.

People

Sam Guilaumé is CEO and chairman of Movea. Geoffroy Dubus represented GIMV and Nicolas Boulay and Yvan-Michel Ehkirch worked on the deal for I-Source Gestion.

Advisers

Equity - Ernst & Young, (Financial Due Diligence)Equity - Joffe & Associés, Aymeric Dégremont, Thomas Saltiel (Legal)Equity - Marks & Clerk, Christian Nguyen (Other Due Diligence)Vendor - Jones Day, Charles Gavotty, Renaud Bonnet (Legal)

Sourced from: France unquote" 89 (Mar 2008)

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