Tuesday, December 27, 2011

Li Ka-shing’s Horizons Ventures takes significant stake in HzO

SALT LAKE CITY, USA: HzO Inc., a leading technology company with proprietary advanced materials that protect electronics from water, humidity, and other liquids, announced that Horizons Ventures Ltd, a Hong Kong investment firm that manages the private investments in the technology sector for Li Ka-shing, purchased a $3 million stake in HzO as part of a preferred equity investment.

“We are grateful for the interest Horizons and Mr. Li have taken in HzO,” said Paul Clayson, president and CEO. “This investment again demonstrates the global potential of our technology to protect electronics assemblies in multiple markets from damage resulting from water and other liquids. The investment also affiliates HzO with one of the most notable and successful global investors in technology and a world-class business operator.”

With the investment Horizons, becomes a shareholder in HzO with other preferred equity investors, including ZAGG, the publicly traded maker of the invisibleSHIELD and other accessories for mobile devices. ZAGG originally acquired HzO in 2009 then spun off HzO as a private independent company to improve and commercialize its WaterBlock technology.

“Horizons Ventures believes HzO’s technology expands the world of mobile connectivity as it meets global consumers’ new expectations for mobile devices," said Jason Wong, CFO of Horizons Ventures, who will serve in Horizon’s seat on the HzO board of directors.

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