14 DAY TRIAL // Networking solutions specialist Cisco has started pumping up significant amounts of cash into SoonR, a company that provides its subscribers with mobile access to their desktops.
Both parties refused to elaborate on the details of their financial partnership, but SoonR issued a statement early this week that alleged that the networking expert appears to be the leading investor with about $9.5 million. Some other companies to take part at the "B Series" of the investment round were Intel Capital and Clearstone Venture Partners. SoonR officials said that the company has received investments of $15.5 million over a two years' period.
The company offers a strange, yet catchy service. Its subscribers are given the possibility to access, share, or back up files on their desktop computers using a regular mobile phone or another Internet-enabled mobile device. The files are synchronized from the PC to SoonR's servers, so the service continues to be available even if the PC is turned off.
"Cisco was among the first to recognize that a massive convergence between the desktop and mobile worlds was on the horizon, and that next-generation solutions were needed to advance this trend," Patrick McVeigh, SoonR's chief executive, said Tuesday. "We both believe that crucial business documents will need to be accessible and actionable from 'the cloud', or the layer of network intelligence, through a myriad of Internet-connected devices."
Last fall, SoonR announced to have signed a partnership agreement with mobile-office software company Quickoffice, a well-known software producer for both Symbian and UIQ platforms for mobile telephony.
It seems like Cisco has initialized a company shopping spree, in an attempt to offer a wide range of networking and connectivity-related services. At the moment, Cisco's efforts are concentrated on taking an important market share in the consumer electronics and high-definition television businesses. Cisco has previously acquired set-top box maker Scientific-Atlanta and networking gear producer Linksys.