Bloomberg News

Li Ka-Shing Acquires Stake in Language Company Ginger

August 24, 2012

Billionaire Li Ka-shing acquired a stake in Ginger Software Inc., a developer of programs to correct words entered by computer users, adding to his portfolio of investments in technology companies.

Horizons Ventures Ltd., a firm that manages Li’s technology investments, and Harbor Pacific Capital Partners invested a combined $5 million in Ginger, according to an Aug. 22 statement by the software maker. Jeremy Lau, a spokesman at Li’s Hutchison Whampoa Ltd. (13) in Hong Kong, confirmed details of the statement by phone today.

Li, Asia’s richest man, made personal investments in technology companies including Facebook Inc. (FB:US), Spotify Ltd. and Siri Inc., betting demand for social-networking and Web-based entertainment services will increase as more consumers go online with computers and smartphones. His publicly-traded companies including Hutchison have investments in industries including ports, telecommunications and energy in more than 50 countries.

Ginger Software, which has offices in Israel and the U.S., offers technology that helps computer users with spelling and grammar, according to its website. Chief Executive Officer Net Jacobsson was a former executive at Facebook, the world’s biggest social-networking company.

In 2010, Apple Inc. acquired Siri, a maker of software that allows people to search the Internet from their phones with voice commands, and later included the company’s technology in the iPhone.

Li’s wealth of $25.3 billion placed him 13th on the Bloomberg Billionaire index of the world’s richest people.

To contact the reporter on this story: Mark Lee in Hong Kong at wlee37@bloomberg.net

To contact the editor responsible for this story: Michael Tighe at mtighe4@bloomberg.net


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