Cash-rich Emblaze eyeing investment opportunities

Cash continues to be king at Emblaze, the Israeli technology firm which is suing Apple for alleged patent infringements.

The £54m valued company, which produces software for the fast growing mobile phone sector, finished 2011 with cash and short term investment assets of $149m, up from $145m at the end of 2010.

The group is carefully managing its cash so as to take advantage of changing market conditions, and is currently evaluating a number of investment opportunities.

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The company said it also ploughing on with its legal proceeding against iPhone maker Apple, as it believes the US electronics titan has infringed Emblaze's livee streaming patent.

The group saw revenue in 2011 surge to $1.21m from $0.63m in 2010, and this fed through to profit from continued operations of $2.8m, compared to a loss the year before of $4.6m.

The share price rose 3p to 48p on the release of the figures.

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