3M buys stake in mobile app developer

3M has invested nearly $6.5 million for a 10 percent equity stake in Artificial Life, a Los Angeles-based company that develops 3G mobile broadband technology and content, including for healthcare. Artificial Life, which is publicly traded on the Over the Counter Bulletin Boards, has among its product portfolio Mobile Diab, a smartphone application for mobile glucose monitoring that facilitates real-time communications between diabetic patients and their doctors.

"The cooperation will allow us to create innovative business and lifestyle applications for one of the leading innovators in the business world and the general public. We are looking forward to working with 3M on many projects in the coming years," Artificial Life CEO Eberhard Schoneburg says in a statement.

To learn more about this deal and about Artificial Life:
- read this Finance and Commerce story
- see the Artificial Life press release

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