TOKYO (03/28/2000) - Hikari Tsushin Inc., a leading Japanese phone-service reseller increasingly becoming a major investor in telecommunications start-up companies, has invested US$29.5 million in Pixo Inc., a Cupertino, California-based developer of wireless Internet systems.
As a result of the investment, the two companies will undertake a joint venture in Japan to provide wireless Internet services to consumers, they said in a statement.
Pixo has developed an HTML (hypertext markup language) microbrowser designed for use on cell phones. It lets users can access almost any HTML-based content, unlike competing browsers from companies such as Phone.com Inc. that are based on WML (wireless markup language) or HDML (handheld device markup language).
The Pixo browser also handles reformatting of the HTML pages to make them easier to read on cell-phone displays, according to the company.
The investment is the largest to date in Pixo and makes Hikari Tsushin the company's largest single shareholder. Other investors include Conexant Systems Inc. and venture capital companies Altos Ventures, Bay Partners and ComVentures.
Hikari Tsushin, in Tokyo, can be contacted online at http://www.hikari.co.jp.
Pixo, in Cupertino, California, can be contacted online at http://www.pixo.com or by phone at +1-408-996-8224.