Equity investment in 2.5G and 3G mobile payment / mCommerce solutions company

Magex announced that leading systems-integrator SchlumbergerSema has made an equity investment in the company, which will help them pioneer new 2.5 and 3G mobile payment/mCommerce solutions.

The two companies have worked together closely to develop payment platforms for banks and wireless operators and the investment will considerably accelerate its development of features in the mobile Internet payments market. As part of the investment Magex will have greater access
to SchlumbergerSema's financial and telecommunications customers. In
particular, SchlumbergerSema is targeting 2.5 and 3G mobile operators, who
will be able to benefit from the joint Magex/SchlumbergerSema payments
solution.

The investment builds upon the $80 million in private equity funding that
Magex has raised over the last two years. Investment has been led by
Goldman Sachs funds and Capital Z Financial Services Fund II, LP. Other
investors including InterTrust Technologies Corporation, Reuters, GE
Capital, LVMH, investment affiliates of Soros Private Equity Partners LLC,
Sir Paul McCartney, SLF Ventures, Westpool Investment Trust, Kistler
Associates, and founding investor, NatWest, part of The Royal Bank of
Scotland Group.