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Texas Instruments made strategic investment in IXI Mobile

Israeli firm to present products incorporating TI chips at upcoming 3GSM World Congress in Cannes

The world's leading cellular chip maker Texas Instruments (NYSE:TXN) made a strategic investment in IXI Mobile's recent $12.5 million financing round.

The round was completed in December with investments from Draper Fisher Jurvetson and Israeli venture capital fund Gemini.

IXI Mobile Co-founder, President and CEO Amit Haller today told TheMarker that the Texas Instruments investment is a strategic investment, based on their alliance.

IXI Mobile will this week be presenting products incorporating Texas Instruments chips at the 3GSM Congress, which will be held in Cannes, France, between February 19 and February 22.

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IXI Mobile's innovative solutions attempt to counter big cellular companies' such as Nokia (NYSE:NOK), Motorola (NYSE:MOT), and Ericsson (Nasdaq:ERICY) strategies to develop advanced mobile appliances, which combine a wide range of applications.

IXI Mobile estimates that most cellular subscribers will prefer using computerized cellular accessories, which cost less than $200.

IXI Mobile has 40 workers at its development center in Ra'anana and American branch in Palo Alto, California. The company is planning a second private placement for $20 million in the course of the third quarter.