ViVOtech Closes $22.5 Million In Series C Round of Funding

Business Wire, August 7, 2007

Investments Validate Growing Market For Contactless and NFC Mobile Phone Payments

SANTA CLARA, Calif. -- Silicon Valley-based ViVOtech has announced that they have closed their Series C round of funding for a total of $22.5 million from strategic investors in key sectors including the financial, retail, and wireless markets, and existing investors. ViVOtech is the acknowledged leader and has pioneered the commercial development of contactless and mobile phone payment technologies including contactless read/write terminals for wide variety of merchants, and Near Field Communication (NFC)-related mobile phone payment wallet, promotions management, and over the air (OTA) card provisioning infrastructure software, that will allow millions of users around the world to make purchases using their mobile phones.

As previously announced in May, leading ViVOtech's Series C round was First Data Corp. (NYSE: FDC). First Data is joined by new investors NCR (see related announcement today), Miven Venture Partners and one undisclosed Fortune 500 company.

* First Data Corp is a leading provider of electronic commerce and payment solutions for businesses worldwide. From locations in 39 countries around the world, First Data serves over 5 million merchant locations, 1,900 card issuers and their customers, and powers the global economy by making it easy, fast and secure for people and businesses around the world to buy goods and services using virtually any form of payment.

* NCR is a leading global technology company helping businesses build stronger relationships with their customers. NCR's Teradata[R] data warehouses, ATMs, retail systems, self-service solutions and IT services provide Relationship Technology[TM] that maximizes the value of customer interactions and helps organizations create a stronger competitive position

* Miven Venture Partners is a multi-stage venture capital firm with a primary focus on investing consumer related technology companies. Founded in 2005, the company has invested globally with its key strength in Asia and North America.

Return investors in the Series C round included Alloy Ventures, DFJ Gotham, Draper Fisher Jurveston, and Nokia Growth Partners.

"This funding underpins our strategic development plans and will provide the capital required to execute successfully on our ongoing product development, partnering and international expansion strategies," said Michael Mullagh, ViVOtech's Chief Executive Officer. "Over the last six months we have seen strong interest from multiple players in the financial, retail, and wireless industries. We are forming key strategic partnerships with these new investors which we are confident will help ViVOtech to maintain its market leadership and shape the future of contactless and NFC mobile payment applications and technologies."

Near Field Communication (NFC):

NFC is a 13.5 MHz radio frequency based technology that provides up to 4 inches of wireless connectivity between two enabled devices. NFC technology allows mobile devices to electronically interact with point of sale payment systems, ATMs, kiosks, smart posters, promotions, and self-service check-in systems. ABI Research* recently forecasted that NFC chips will be embedded in over 20% of all mobile handsets that are expected to ship worldwide by 2012.

Series C Investors include:

Alloy Ventures have been providing venture capital to companies since 1977. The company's primary areas of investment are in information technology and life science industries. Alloy Ventures currently has more than $750 million under management. For more information about Alloy Ventures, please visit www.alloyventures.com.

Draper Fisher Jurvetson has created a global network of affiliated venture funds with over $4.5 billion in capital commitments and offices in the major technology centers around the world. Headquartered in Silicon Valley, the firm has proven expertise in identifying and helping extraordinary entrepreneurs who want to change the world. For more information about Draper Fisher Jurvetson, please visit www.dfj.com.

First Data Corp. (NYSE: FDC) is a leading provider of electronic commerce and payment solutions for businesses worldwide. Serving over 5 million merchant locations, 1,900 card issuers and their customers, First Data powers the global economy by making it easy, fast and secure for people and businesses around the world to buy goods and services using virtually any form of payment. The company's portfolio of services and solutions includes merchant transaction processing services; credit, debit, private-label, gift, payroll and other prepaid card offerings; fraud protection and authentication solutions; receivables management solutions; electronic check acceptance services through TeleCheck; as well as Internet commerce and mobile payment solutions. The company's STAR Network offers PIN-secured debit acceptance at 2 million ATM and retail locations. For more information, visit www.firstdata.com.

DFJ Gotham Ventures, located in New York, is a Draper Fisher Jurvetson affiliate fund with over $100 million in assets. DFJ Gotham is focused on backing exceptional entrepreneurs in a variety of IT sectors. DFJ Gotham shares the knowledge, resources and contacts of over 15 DFJ-network funds. For more information about DFJ Gotham, please visit www.dfjgotham.com.