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CANESTA, INC.
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SAN JOSE, CALIFORNIA and TOKYO, JAPAN – June 4, 2002 – In response to the high degree of interest in its electronic perception technology among Asian companies, Canesta today announced it has established Canesta Asia, Inc, and has appointed Sakuya Morimoto as representative director. The company has also announced that Nobuyuki (Norm) Denda, former chairman of Intel K.K. has been named an advisor to the San Jose, CA-based parent company.
Canesta's electronic perception technology, which is designed to "sight enable" ordinary electronic devices by means of a revolutionary 3-D sensor chip and software, has a wide variety of potential applications in business and consumer markets – particularly mobile and wireless – increasingly served by Asia-based original equipment manufacturers (OEMs). Although there are longer-term opportunities for the technology in gaming, automotive, oil and gas, and industrial equipment applications, sight-enabled mobile and wireless products based upon Canesta's electronic perception technology are actively being designed by OEMs today, and are expected to appear in early 2003. Initial uses will include projection keyboards.
Canesta Asia Inc. (K.K.) has been formed to establish and support strategic customer and supplier relationships with the many Asian companies that are both potential users of Canesta's technology and suppliers or partners in manufacturing and development. The first operations of Canesta Asia Inc. will be based in Tokyo.
"We are very pleased that interest in and adoption of our technology by Pacific Rim companies has been so rapid," said Nazim Kareemi, Canesta's president and CEO. "Having a strong presence in the region with a capable management team will equally benefit Canesta and its strategic partners."
Sakuya Morimoto, who was formerly with McKinsey & Co., has been named director of business development in Asia and representative director. While at McKinsey & Co, Morimoto was heavily focused on clients in the mobile communications and electronics industries. Before joining McKinsey, he worked in Sony Corporation's broadcast and professional equipment business division and ultimately was responsible for business development and establishment of distribution and large customer relationships in major international markets. Morimoto received a BA in Economics from Kobe University in Japan and an MBA from the Stanford Graduate School of Business.
Canesta also announced that Nobuyuki (Norm) Denda, former chairman of Intel K.K., and vice president, sales and marketing, has joined Canesta's advisory board. Denda is a long-time veteran of Intel, having joined the company's Japan sales force when it was first established in 1971. Subsequent to its incorporation five years later, Denda transferred to Intel Japan K.K., where he rose to general manager of marketing in 1983, of sales in 1984, and executive vice president in 1988. He was ultimately appointed representative vice president, and operating group vice president of sales, in 1993.
Denda graduated from Nihon University's Dept. of Science and Engineering in 1970. He is a member of the board of directors of a MITI-affected corporation "Personal Computer Users' Application Technology Association" and an executive committee member of the American Electronics Association-Japan.
"Electronic perception technology is one of the most interesting 'big ideas' to come along in a long time," said Denda. "I am honored to be able to assist this technology to take root in the particularly fertile ground of Japan and its neighbors."
Other members of Canesta's advisory board include Dr. Forest Baskett, venture partner with NEA (New Enterprise Associates) and a pioneer at Silicon Graphics; Dr. Ronjon Nag, CEO and co-Founder, Cellmania.com; Brian Dougherty, the veteran Silicon Valley entrepreneur who founded Geoworks and Wink Communications, and others.
Canesta is the inventor of a revolutionary, low-cost electronic perception technology that enables ordinary electronic devices to perceive and react to nearby objects or individuals in real time.
When sight-enabled with Canesta's unique electronic perception chips and software that sense the environment as 3-dimensional moving images, consumer, automotive, industrial, and medical products will gain functionality and ease of use not possible in an era when electronics were blind.
Canesta was founded in April 1999, and is located in San Jose, CA. The company has filed or has been granted in excess of 20 patents. Investment to date exceeds $20 million, from Carlyle Venture Partners, Apax Partners (formerly Patricof & Co Ventures, Inc.), JP Morgan Partners (formerly Chase Capital Partners), TechFund Capital, and Thales Corporate Ventures (formerly Thomson-CSF Ventures.) Canesta has over 35 employees. Canesta's Web site: www.canesta.com
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