XcelMobility buys video encoding group of Shenzhen Jifu Communication

Telecom Lead Asia: XcelMobility, a mobile internet products developer, has acquired video encoding group of Shenzhen Jifu Communication Technology.

Shenzhen Jifu develops video encoding and compression technology for Geospatial Multimedia applications. The group has over 50 engineers working on algorithms and applications including the merging of real-time video with location-based technology.

The technology enables video, imagery & audio streams to be recorded together with navigation, as well as, orienatation sensor information.

Ron Strauss, chairman of XcelMobility, said: “The launch of our Mach 5 LBS product made it easy to develop location-based solutions that assist in corporate image display, new store expansion, operations management and sales promotion, among others.”

The combined Jifu’s video solutions team and XcelMobility’s LBS group has the potential to deliver advanced application for location-based technology on mobile devices.

The market has the potential to generate sales of over $3 million in 2013.

The smartphone proliferation, a surge in application storefront launches and new developments in hybrid positioning technologies are expected to help drive revenues from mobile location-based services (MLBS) around the world to more than $12.7 billion by 2014, according to Juniper Research.

Shenzhen Jifu Communication Technology Group is a manufacturer specializing in video surveillance system, software platforms and fiber optic solutions.

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