Axel Technologies and Symbio Partner to Accelerate Fuugo

Axel Technologies, a provider of mobile TV software technologies, will partner with Symbio, an outsourced product development solutions provider to accelerate R&D for Axel Technologies' Fuugo™, the next generation TV application for mobile and portable devices, to enable faster global market entry.

The strategic partnership with Symbio is part of Axel Technologies' latest investment round with existing investors Nexit Ventures and Finnish Industry Investment. In addition to new financing, Axel is strengthening its business with a reliable co-creation partner that extends and enhances its R&D, integration and support capabilities. Symbio's robust mobile, Android and multimedia integration and global technical support expertise frees Axel Technologies to focus on innovative product development and grow the business.

"This is a great opportunity for Axel to accelerate our growth and focus on global plans for Fuugo™. With Symbio's experienced software specialists on board we can deliver new projects quicker and offer the best support to our existing customers," explained Petri Kalske, CEO of Axel Technologies. "Fuugo has already gained a tremendous amount of global interest and with this partnership, we can proceed with our plans for a commercial launch later this year."

"Symbio is very excited to partner with Axel Technologies as we are both passionate about making the digital convergence between communications and technology a reality," said Jacob Hsu, CEO of Symbio. "Axel's Fuugo is a perfect example of how converged technology transforms the way we consume media and communicate with social networks. We are delighted to play a strategic co-creative role in enabling Axel to expand its presence globally."