The new business is developing mobile personal computers, which would provide the power and functions of a full PC in a lightweight form the size of a paper tablet. The company, founded in August 2001, is negotiating for its first round of venture capital. So far, funding has come from its ranks and "angel" investors.
It's one of the few leases this year in which a new company has taken space. Most others have been companies moving from one building to another for lower rates or higher quality space.
Kathy Carr of Commercial Texas represented Edelman Worldwide, the subleasing company, and Steve McMillon of the Kucera Cos. represented Motion Computing. The sublease runs through August 2003.
Motion's first product is scheduled for release later this year as part of a broad industry initiative to create mobile computers with full power. Microsoft Corp. is developing an operating system for the new class of computers.
Scott Eckert, Motion's CEO, was Dell's general manager of several international operations and founder and head of its Internet operations. COO David Altounian was a senior product marketing executive in Dell's notebook and workstation lines. Rob Repass, CFO, has been a partner at TL Ventures and PriceWaterhouse Coopers and was CFO for Ross Technologies.
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