SiGe Semiconductor Announces Expansion Round of Financing
SiGe Semiconductor raises US $20 million in expansion financing
[ClickPress, Wed May 30 2007] SiGe Semiconductor, a leading supplier of RF front-end solutions for wireless systems, today announced it has raised US $20 million in an expansion round of financing. Samsung Ventures, the US-based venture capital investment arm for Samsung Venture Investment Corporation (SVIC), joins as a strategic investor participating in this round. The capital will fund expansion of SiGe Semiconductor’s product lines supporting the Wi-Fi®, WiMAX and GPS markets.
Samsung Ventures joins returning investors 3i Venture Capital, Prism VentureWorks, TD Capital Ventures, VenGrowth Private Equity Partners, RWI Ventures and GrowthWorks. With the completion of the expansion round, SiGe Semiconductor also welcomes two new board members: Bill Byun, managing director, Samsung Ventures, and Jim McLean, partner, 3i Venture Capital. Jim McLean replaces Sean Brownlee who previously served as 3i’s representative on the board.
“We are very pleased with the strategic investment by Samsung Ventures, and want to thank our returning investors for their continued support,” said Sohail Khan, president and CEO, SiGe Semiconductor. “Our objective with this funding is to expand our customer base to drive an increase in our market share across key segments. Expanding our footprint in the market will drive profitable growth, and will fuel the development of industry-leading products for emerging wireless applications.”
SiGe Semiconductor provides the industry's most comprehensive portfolio of RF front-end solutions to manufacturers of wireless consumer electronics including laptop computers, access points, personal navigation devices, personal entertainment devices, and cellular phones. SiGe’s portfolio includes Wi-Fi power amplifiers and front-end modules, GPS receivers and WiMAX transceivers, which make it possible for consumers to take full advantage of wireless technology to work seamlessly between the office, home, and on the road; navigate streets using cellular phones or handheld location devices; and distribute media throughout the home.
SiGe’s industry-leading products are driving impressive revenue growth. Revenues increased more than 50 percent in 2006 to $49.4 million from $31.8 million in 2005. The company has shipped more than160 million integrated circuits to customers and partners including Arris Interactive, Askey, Broadcom, Centrality, CSR, DeLorme, Furuno, Garmin, Gemtek, Mitsumi, Nintendo, Samsung, Tecom, Tyco, and USI.
“We evaluated several semiconductor companies serving the wireless consumer markets and were impressed with SiGe’s outstanding revenue growth and proven track record in delivering technically innovative products,” said Bill Byun, managing director of Samsung Ventures. “Samsung Ventures also recognises the synergies across our target markets and we feel this will be a mutually beneficial investment. We look forward to working closely with SiGe’s management team as the company continues its push to support mobile wireless services.”
About SiGe Semiconductor, Inc.
SiGe Semiconductor, Inc. is a leading global supplier of RF front-end solutions for next-generation wireless systems. SiGe's products enable the addition of wireless data and navigation capability in laptop PCs, PDAs, handheld game machines, cell phones and personal video players. The company's solutions are also compliant with standards such as WiFi, WiMAX, GPS, Galileo, GSM and UMTS and offer exceptional performance for consumer products. SiGe operates worldwide and penetrates the Far East through its five key sites and distribution network.
About Samsung Venture Investment Corporation
Samsung Venture Investment Corporation manages investment and investment-related activities for the Samsung Group. The investment mandate for Samsung Venture Investment Corporation tracks closely to the strategic priorities of Samsung Electronics’ and other Group companies’ core operating divisions, and encompasses investments in semiconductors, displays, telecommunications, and consumer electronics.
Forward Looking Statements
This news release may contain certain forward-looking statements. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and SiGe Semiconductor, Inc. does not undertake an obligation to update forward-looking statements should conditions or management's estimates or opinions change.
Notes
Bluetooth and the Bluetooth logos are trademarks owned by Bluetooth SIG, Inc., U.S.A. and licensed to SiGe Semiconductor.
Wi-Fi® is a trademark of the Wi-Fi Alliance. WiMAX Forum™ and WiMAX Forum Certified™ are trademarks of the WiMAX Forum™. All other trademarks are the property of their respective owners.
For more information contact:
Bev Hemish, Marketing Communications, SiGe Semiconductor,
Tel: +1 613 288 2709
Email: bhemish@sige.com
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