Alereon announced it has received a $3 million investment from SK Telecom. SK Telecom is the second major Korean investor in Alereon, following the Samsung Ventures investment in the fourth quarter 2006.

Eric Broockman, CEO of Alereon, commented, “I believe this commitment from SK Telecom is strong evidence that our technology, along with our ability to bring added value to our strategic partners, is capturing the attention of even the most demanding investors. The SK Telecom investment is consistent with our strategy to work closely with established market leaders in the mobile handset space worldwide.” 

SK Telecom intends to use UWB technology as a standardized method of providing high speed mobile phone services to customers expanding their options for entertainment content delivery to their mobile devices. Users will be able to seamlessly communicate directly with other mobile users, with kiosks, and with their own entertainment devices enjoying the benefits of having their content where ever they want, when ever they want.

“This investment is consistent with our vision that UWB and Wireless USB will be important in mobile and consumer electronic products with significant volume production” said an investment manager at SK Telecom. “SK Telecom has conducted an in-depth analysis of many UWB companies and chose to invest in Alereon as they represent the ideal balance of leading products and product plans to address many of our future implementations of Wireless USB and UWB in mobile handsets, especially in Korea and China.”
Mr. Broockman concluded, “In addition to the initial investment, we believe we are well prepared to collaborate with SK Telecom for their specific application needs. We look forward to engaging with SK Telecom to develop UWB-related products for mobile applications in Korea and China.”