Monday, November 30, 2009

Inphi Corporation files lawsuit against Netlist Inc.

WESTLAKE VILLAGE, Calif., November 30, 2009 – Inphi Corporation, a high-speed analog semiconductor company and leading innovator in memory standards, announced today that it has filed a patent infringement lawsuit against Netlist Inc. (Nasdaq:NLST) in the United States District Court for the Central District of California.

Inphi’s lawsuit alleges that Netlist’s DDR3 Registered memory modules, including their recently announced HyperCloud™, infringe on the following Inphi U.S. Patents: No: 7,307,863 and 7,479,799. The patents relate to memory interface technologies used in enterprise server and storage applications.

Broadcom to Acquire Dune Networks

IRVINE, Calif., Nov 30, 2009 -- Broadcom Corporation (Nasdaq: BRCM), a global leader in semiconductors for wired and wireless communications, today announced that it has signed a definitive agreement to acquire Dune Networks, a privately-held company that develops switch fabric solutions for data center networking equipment. Data centers are scaling to provide significantly more bandwidth to meet the requirements of cloud computing, where computing resources, products and services, such as Software as a Service (SaaS), can be delivered real-time over the Internet. Dune Networks has developed a scalable chipset that supports bandwidth speeds of up to 100Gbps per port and can connect more than ten thousand servers (ports) in a single deployment.

"Dune's massively scalable interconnectfabric, combined with our Ethernet products, augments our portfolio of solutions for data center networking equipment," said Martin Lund, Vice President and General Manager, Broadcom's Network Switching line of business. "This technology is particularly well suited to meet the emerging requirements for cloud computing networks at a large scale, and will enable us to address new market applications for Ethernet in the data center."

"Dune Networks' distributed connection fabric is a complement to Broadcom's existing product suite," said Eyal Dagan, Chief Executive Officer, Dune Networks. "Our joint customers will be able to bring to market low cost, high performance data center switching that will enable end users to build next-generation cloud computing networks."

In connection with the acquisition, Broadcom expects to pay approximately $178 million, net of cash assumed from Dune Networks, to acquire all of the outstanding shares of capital stock and other rights of Dune Networks. The purchase price will be paid in cash, except that a portion of such purchase price attributable to unvested employee stock options will be paid in Broadcom restricted stock units. A portion of the cash consideration payable to the stockholders will be placed into escrow pursuant to the terms of the acquisition agreement. Excluding any purchase accounting related adjustments and fair value measurements, Broadcom expects the acquisition of Dune Networks will be neutral to slightly accretive to earnings per share in 2010. The boards of directors of the two companies have approved the merger. The closing, which is expected to occur by the end of Broadcom's first quarter ending March 31, 2010, remains subject to customary closing conditions.

Monday, November 23, 2009

MaxLinear Files S-1 Registration Statement for Initial Public Offering

Editors note: This PR posting has been delayed by 17 days.

Carlsbad, Calif. - November 6, 2009 - MaxLinear, Inc., a leading provider of CMOS-based highly integrated, radio-frequency analog and mixed-signal semiconductor solutions for broadband communications applications, today announced that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission for a proposed initial public offering of its Class A common stock. The number of shares to be offered and the price range for the offering have not yet been determined.

Morgan Stanley & Co. Incorporated and Deutsche Bank Securities Inc. are acting as book-running managers for the offering. UBS Securities LLC, Thomas Weisel Partners LLC and Needham & Company, LLC are acting as co-managers for the offering.

When available, a copy of the preliminary prospectus may be obtained from Morgan Stanley & Co. Incorporated, 180 Varick Street, New York, NY 10014, Attn: Prospectus Department, by calling 866-718-1649 or by emailing or from Deutsche Bank Securities Inc., 100 Plaza One, Jersey City, New Jersey 07311 Attn: Prospectus Department, by calling 800-503-4611.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

Telegent Systems Files Registration Statement for Proposed Initial Public Offering

Sunnyvale, CA – November 23, 2009 – Telegent Systems, Inc. today announced that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission ("SEC") relating to the proposed initial public offering of its common shares. The number of common shares to be sold in the offering and the price range for the proposed offering have not yet been determined. Goldman, Sachs & Co. and J.P. Morgan Securities Inc. are acting as joint book-runners, and Jefferies & Company, Inc., Oppenheimer & Co. Inc. and Piper Jaffray & Co. are acting as co-managers for the proposed offering.

The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus related to the offering may be obtained, when available, from: Goldman, Sachs & Co., 85 Broad Street, New York, NY 10004, Attention: Prospectus Department, by calling 866-471-2526 or by emailing or J.P. Morgan Securities Inc., 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245 Attention: Chase Distribution & Support Service Northeast Statement Processing, or by calling 718-242-8002.

A registration statement relating to these securities has been filed with the SEC, but has not yet become effective. The securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Telegent Systems, Inc.
Telegent Systems, Inc. is a fabless semiconductor company that develops and markets highly-integrated, high-performance, CMOS RF and mixed-signal system-on-a-chip solutions. Telegent's products enable the reception of live, free-to-air analog and DVB-T digital broadcast television in mobile handsets and other portable consumer devices. Telegent Systems, Inc. is incorporated in the Cayman Islands.

Wednesday, November 18, 2009

Semtech Announces Definitive Agreement to Acquire Sierra Monolithics, Inc.

AMARILLO, Calif. & IRVINE, Calif.--(BUSINESS WIRE)--SEMTECH CORPORATION (NASDAQ: SMTC), a leading supplier of analog and mixed-signal semiconductors for high-end consumer, computing, communications and industrial equipment, has entered into a definitive agreement to acquire Sierra Monolithics, Inc. for $180 million in cash. Headquartered in Irvine, California with design centers in Irvine and Redondo Beach, California, Sierra Monolithics provides high performance analog ICs and solutions for a wide array of communications systems and applications. The transaction is expected to be accretive to Semtech’s GAAP earnings per share within twelve months of the transaction closing and is expected to be immediately accretive to Semtech’s Non-GAAP gross margins and Non-GAAP earnings per share.

Sierra Monolithics, Inc. (SMI) was founded in 1986, and has approximately 110 employees including over 60 engineers. SMI has experienced significant growth over the past few years fueled by rapid growth in traffic over both wireline and wireless telecom networks. Market growth drivers for SMI include growing video traffic over the internet, competition between cable operators and telecom carriers, emergence of datacenters, cloud computing, and wireless data services. Over the last five years, SMI has grown revenue at a compound annual growth rate of over 40%.

SMI is the recognized leader in the 40Gbps and 100Gbps SERDES space. Its 40Gbps SERDES product portfolio includes multiple chip sets which address all the major 40Gbps modulation schemes currently being deployed worldwide. These leadership products have enabled SMI to become a key supplier to almost all of the major telecom OEMs and Optical module customers offering 40Gbps solutions. Following up on its success in the 40Gbps SERDES arena, SMI was also the first semiconductor company to provide both client side as well as line side 100Gbps SERDES chip sets for the emerging 100Gbps telecom and datacom markets. In addition, SMI leverages its expertise in high frequency wireless technologies and protocols to deliver wireless solutions for high performance military and wireless networking applications.

Sierra Monolithics expects to generate approximately $50 million of revenue for calendar year 2009 with gross margins towards the high end of Semtech’s stated gross margin model of 55% to 60%. Driven by its growing product portfolio and the rapid growth markets it addresses, Sierra Monolithics expects to continue the rapid growth vector it has been on over the last five years, including revenue growth of approximately 20% to 30% in calendar year 2010.

Sierra Monolithics’ focus on providing leading solutions to the core communications infrastructure and leading edge defense markets enhances Semtech’s value proposition to major customers in these markets. With the acquisition of Sierra Monolithics, Semtech adds an additional, high growth revenue stream to Semtech’s portfolio of growth engines.

Charles Harper and Javed Patel, Sierra Monolithics President and Chief Executive Officer, will both become members of the Semtech Leadership Team reporting to Mohan Maheswaran after the closing of the transaction.

Under terms of the agreement and plan of merger, Semtech will pay the stockholders of Sierra Monolithics $180 million in cash at the closing. In addition, at the closing Semtech will also assume the existing unvested options of Sierra Monolithics’ employees valued at approximately $8 million and at closing will grant to employees additional equity incentives up to $12 million in value. $18 million of the cash consideration will be placed into escrow for twelve months in order to meet any indemnifiable claims pursuant to the terms of the definitive agreement. The transaction will be funded with Semtech’s existing cash reserves. In association with repatriating cash domiciled overseas to fund the transaction, Semtech expects to incur a one-time tax liability of approximately $33 million in Q3 FY10. The closing of the transaction remains subject to closing conditions, including the expiration or termination of the Hart-Scott-Rodino Act waiting period and obtaining other required consents.

Morgan Stanley & Co. Incorporated provided exclusive financial advisory services to Semtech and Paul, Hastings, Janofsky & Walker LLP served as legal counsel for Semtech. Jefferies & Company, Inc. served as financial advisor to Sierra Monolithics and Morrison & Foerster LLP served as legal counsel for Sierra Monolithics.

picoChip attracts $20 Million investment to accelerate growth

Bath, UK - November 18th, 2009: - picoChip today announced that it has completed a $20 million funding round. Already the dominant supplier for femtocell silicon, supporting all the major HSPA carrier deployments, this additional investment will help picoChip extend its leadership and grasp the growing market opportunity in the femtocell sector.
“This investment comes as the market is taking off for picoChip: it is testament to what we have already achieved, and our investors’ belief in our future,” said picoChip’s CEO Nigel Toon. “picoChip was the pioneer in femtocell technology and we are delighted to see our customers and partners deploying in volume in the rapidly developing global femtocell market. Our customers are already benefiting from picoChip’s substantial head-start, field-proven robust products and unparalleled experience in this market. This investment strengthens our balance sheet and fully funds us through to IPO.”

picoChip’s investors include financial investors, Atlas Venture, Highland Capital Partners, Pond Venture Partners, Scottish Equity Partners, and Rothschild plus strategic investors AT&T, Intel and Samsung. This fresh injection of capital from top tier VCs and institutional investors comes at a time when technology VC investment has decreased markedly, with backers choosing their investments carefully and only the strongest companies able to secure finance.
Dan Rosen, Principal at Highland Capital Partners, commented, “At Highland, we invest in companies that can establish leadership in explosive, high-growth markets. We are very excited about picoChip’s prospects in the Femtocell market. The company continues to win market share with proven best-in-class technology.”

ABI Research forecasts the total available femtocell market in 2010 will reach 2.3 million units, rising to 40 million units in 2014. In 2009 six major network operators have launched femtocell services that cover the USA, Europe and Asia.

Having been the first to market with a femtocell solution in 2005, picoChip is clearly the leading technology supplier for carrier’s HSPA rollouts, with seventeen customers using the field-proven picoXcell™ product. The company today also announced its strategy for an end-to-end femtocell reference solution that will lower barriers to entry, minimize cost and accelerate time-to-market for femtocells.

picoChip’s strong financial position, fast ramping revenues and proven technology leadership have won it the respect of customers and the financial community. In the last year picoChip was a top ranked company in Deloitte’s prestigious FAST 50, a widely acknowledged bellweather for the industry; and has been named one of the ‘Top Ten Private Companies’ to watch by the Financial Times. The additional endorsement of this investment allows the company to consolidate its leadership in next-generation wireless and assist in the next phase in the company’s growth.

picoChip CEO Nigel Toon will be speaking at the Barclays Capital 2009 Technology Private Company Conference in San Francisco on December 7th.

picoChip is bucking the trend with this latest investment that comes at a time when venture investors are extremely cautious. In its August 2009 State of the Semiconductor Industry report*, the Global Semiconductor Association (GSA) highlighted venture capital funding at a historic low. The report quotes figures from J.P. Morgan, presented to the GSA: ‘In the first half of 2009, funding in the semiconductor industry…totaled $569 million, compared to $1.1 billion for the same period a year before – a 48% decline in investments.’ Similarly, Thomson Reuters reported that the first three quarters of 2009 marked the weakest nine month period for new venture capital investments in 15 years.

Wednesday, November 11, 2009

Stretch Inc. Secures $10M in Mezzanine Funding Round

SUNNYVALE, CA--(Marketwire - November 11, 2009) - Stretch Inc., the pioneer and leader in software configurable processors, today announced it has received $10 million in mezzanine funding, co-led by existing investors Worldview Technology Partners, Oak Investment Partners, and Menlo Ventures.

"This last round of funding provides Stretch the financial security to scale our operations and attain profitability," said Craig Lytle, president and CEO of Stretch. "Where we have seen many startups fail in this difficult economy, Stretch's success is a testament to our ability to provide increased performance at a reduced cost for our customers."

Stretch has been successful in securing design wins with major video surveillance OEMs and ODMs across the world, and those customers are now in production, driving strong revenue growth. A partial list of customers includes Skyvision, EverFocus, Lanner, Advantech, Euresys, Matrox, Provideo, and UDP Technologies.

"2009 has been a watershed year for Stretch," commented Bob Beachler, Stretch's vice president of marketing, operations, and systems design. "Our third quarter was excellent, with revenue growing four times over second quarter, and we entered the fourth quarter with a healthy backlog to support a 3x revenue growth over the third quarter."

Stretch intends to use this additional funding to support increased manufacturing capacity and tape-out of its third generation of devices. With more than sixty employees, and offices worldwide, Stretch has received twenty patent awards and more patents pending.

About Worldview Technology Partners
Worldview Technology Partners is a leading venture capital firm focused on investing in and building leading U.S. technology companies. Worldview's comprehensive, industry-leading business development services help its portfolio companies succeed in U.S. and international markets. With a 12-year track record of successful technology investing and close to $1.4 billion under management, the Worldview team -- now on its fourth fund -- has both the experience and the resources to invest in a broad range of information technology markets, including semiconductors, enterprise infrastructure, and software.

About Oak Investment Partners
Oak Investment Partners is a growth-oriented private equity firm with a total of $8.4 billion in committed capital. Investments are primarily focused on growth opportunities in clean energy, communications, information technology, internet new media, financial services information technology, healthcare services and consumer retail. Over a 30-year history, Oak has achieved a strong track record as a stage-independent investor funding more than 481 companies at key points in their lifecycles.

About Menlo Ventures
Menlo Ventures provides long-term capital and management support to early-stage and emerging-growth companies. Menlo is one of Silicon Valley's oldest venture capital partnerships, and has organized and managed ten venture funds since their inception in 1976. With over $4 billion under management, and a team with over 200 years of collective experience in technology, marketing, sales and general management, they have the resources to support the most ambitious of projects.

About Stretch
Stretch Inc. is delivering a family of software configurable processors, the first to embed programmable logic within the processor. Using familiar C/C++ programming tools, system developers automatically configure Stretch's off-the-shelf processors to achieve extraordinary performance, easy and rapid development, significant cost savings, and flexibility to address diverse markets and changing application needs. Stretch devices are used in video processing, machine vision, and wireless applications worldwide. For more information, visit

Tuesday, November 10, 2009

SandForce Closes $21 Million Series C Funding

SANTA CLARA, Calif.--(BUSINESS WIRE)--SandForce™ Inc., the pioneer of SSD (Solid State Drive) Processors that enable commodity NAND Flash deployment in enterprise and client computing applications, today announced that it has closed $21 million in Series C funding. Led by new investor TransLink Capital, the round also included new investors UMC Capital, LSI Corporation, Red Maple Ventures, Darwin Ventures, and A-Data Technology as well as all of the existing SandForce investors –DCM, Storm Ventures, and Tier-1 storage OEMs.

“We have made rapid progress into the marketplace since our launch just six months ago, and we are now shipping silicon to top-tier SSD OEM customers,” said Alex Naqvi, president and CEO of SandForce. “This new funding will help us through our expansion phase as well as accelerate our new products development that will help us maintain our market leadership.”

The patent-pending SandForce DuraClass™ technology is a set of flash memory management features that enable MLC-based SSDs that deliver world-class reliability, performance, and power efficiency. Current SandForce SSD Processor products include the SF-1500 for Enterprise applications and the SF-1200 for Client applications.

“SandForce has a breakthrough product that has enabled it to rapidly secure top-tier OEM customers in the enterprise and client computing markets for SSDs,” said Jackie Yang, managing director of TransLink Capital and new member of the SandForce Board of Directors. “We believe that the SandForce DuraClass technology will open the door to high-volume use of SSDs in business computing, and we are very bullish about the company’s future.”

“SandForce is making it practical to use low-cost multi-level cell flash memory in enterprise-class devices,” said Ross Katchman, head of corporate development at LSI. “As a leading provider of storage and networking technologies, we believe that flash has an important role to play in the enterprise and that SandForce is well positioned to further the deployment of flash-based solutions.”

About SandForce

SandForce is transforming data storage by pioneering the use of commodity flash memory in enterprise and client computing applications with its innovative SSD (Solid State Drive) Processors. By delivering unprecedented reliability, performance, and energy efficiency, SSDs based on patent-pending SandForce DuraClass technology unleash the full potential for mass-market adoption of SSDs using NAND flash memory. Founded in 2006, SandForce is funded by leading venture capital investors and first tier storage companies. For more information, visit SandForce at

The SandForce logo is a registered trademark, and SandForce, DuraClass, DuraWrite, and RAISE are trademarks of SandForce, Inc. All other trademarks are the property of their respective owners.

GigOptix, Inc. Announces Acquisition of ChipX

PALO ALTO, Calif.--(BUSINESS WIRE)--GigOptix, Inc. (OTCBB: GGOX), a leading high speed analog semiconductor manufacturer specializing in electronic engines for the optically connected digital world, today announced that the company has signed a definitive agreement, and completed the acquisition of ChipX, Incorporated, a privately-held fabless supplier of analog and mixed signal custom Application Specific Integrated Circuits (ASICs) on November 9, 2009.

It is anticipated that on a consolidated pro-forma, non-GAAP basis, the company, with locations in the U.S., Switzerland and Israel, will have had combined revenues for the first nine months of 2009 of more than $25M. GigOptix and its subsidiaries will also have a work force of approximately 95 employees, down from 115 pre-merger, of which around 40% are in research and development, and approximately 15% are in sales and marketing. As demonstrated in its previous three acquisitions, the company believes it will achieve significant financial efficiencies after consolidation. Prior to the acquisition, GigOptix employees delivered approximately $230K annual revenue per employee, which the company plans to improve to over $300K annual revenue per employee in 2010.

With the acquisition, GigOptix brings high volume silicon design expertise into the company to complement its design excellence in the more specialist semiconductor technologies of III-V, Silicon germanium and of course its unique expertise in Electro-Optic (EO) polymer technology. This will support its strategic move into higher levels of integration of analog and mixed signal system-on-chip products, such as Clock Data Recovery (CDR) and Serializer/De-Serializers (SERDES). Similar to the acquisition of Helix Semiconductors in January 2008, the acquisition supports GigOptix’s plan to efficiently expand its product portfolio into high volume optically connected markets such as consumer electronics, data centers, high performance computing as well as significantly reducing the time and cost of developing new products, customer relationships and vertical markets. The transaction also delivers increased scale with an existing revenue stream from complementary product sales.

The terms of the deal provide for the ChipX investors to receive approximately 3.5 million common shares, representing approximately 26% of the fully diluted share count of GigOptix. As well as the operational benefits, the acquisition is anticipated to have the significant effect of broadening the ownership of the GigOptix common stock with the addition of new strategic and institutional investors. In parallel with closing the acquisition, the company has entered into a new commercial banking relationship with Bridge Bank, N.A. (NASDAQ: BBNK), a full-service professional business bank based in San Jose, California, which will include a $4 million asset-based line of credit.

Dr. Avi Katz will continue as Chief Executive Officer and Chairman of the Board. The current GigOptix Management Team will continue to lead the combined company, and the new ChipX (CX) Product Line will be jointly managed, ad-interim, by Ophir Nadir, Vice President Engineering of CX Product Line, and Elie Massabki, Vice President Sales & Marketing of CX Product Line. Both Mr. Nadir and Mr. Massabki were formerly executive members of ChipX. The transaction was approved by the board of directors of both companies and became effective on November 9, 2009.

Thursday, November 5, 2009

ON Semiconductor Acquires PulseCore Semiconductor

ON Semiconductor (Nasdaq: ONNN) today announced the acquisition of PulseCore Semiconductor in an all cash transaction for initial consideration of approximately $17 million. PulseCore is now a wholly owned subsidiary of ON Semiconductor.

“The acquisition of PulseCore expands ON Semiconductor’s high gross margin clock and circuit protection offerings for the consumer, wireless and computing end-market customers,” said Keith Jackson, ON Semiconductor president and CEO. “PulseCore’s capabilities in standard and custom high-speed and low power analog and mixed signal solutions for electromagnetic interference (EMI) reduction also enhance ON Semiconductor’s overall EMI filtering and circuit protection portfolios. In addition, PulseCore’s strong design capabilities and history in India represents ON Semiconductor’s first foray into design activity in that country.”

This acquisition provides current and prospective customers of PulseCore products access to ON Semiconductor’s world-class global manufacturing, sales, and support operations.

PulseCore’s multiple generations of EMI reduction technology — including its standard and custom high-speed and low-power analog and mixed-signal silicon solutions — address the growing problem of EMI compliance issues within high-volume consumer applications. PulseCore’s proprietary spread-spectrum technology has been proven in a range of applications from top-tier consumer electronics OEM’s.

The majority of customers’ daily business interactions with PulseCore Semiconductor, including sales operations, will remain unchanged at this time. In addition, substantially all PulseCore employees will join the ON Semiconductor team.

Monday, November 2, 2009

New Venture Partners Lead $8M Investment in Intelleflex

Santa Clara, CA, October 28, 2009 -- Intelleflex Corporation, the leader in Extended Capability RFID, today announced that it has received $8M in funding in the initial close of an investment round led by New Venture Partners. Earlier round investors Arcapita Ventures, Morgenthaler Ventures and The Woodside Fund also participated.

"We believe that Intelleflex is ideally positioned for compelling success" said Ketan Patel of New Venture Partners, who will be joining the company's Board. "The Extended Capability RFID category they've pioneered, with its rich feature set, robust performance, platform flexibility and excellent value has created leadership opportunities in attractive segments including cold supply chain, reusable transport item management, personnel tracking and more."

Intelleflex President and CEO Peter Mehring added, "We're delighted to secure this financing, and that New Venture Partners will be joining the team. We'll use proceeds toward completion and launch of our next generation product set, scheduled for introduction early next year, and to fund ongoing operations and expansion beyond."

Intelleflex Adds Development Team and IP, Spun Out from Maxim Integrated Products

Santa Clara, CA, October 28, 2009 -- Intelleflex, the leader in Extended Capability RFID, today announced that they have reached a definitive agreement with Maxim Integrated Products (NASDAQ: MXIM) that will result in the transfer of a Maxim engineering team, a body of design works and related IP to Intelleflex in return for Maxim receiving an equity position in Intelleflex. In addition, Intelleflex and Maxim will partner on certain go-to-market activities in the future.

Intelleflex President and CEO Peter Mehring commented, "This transaction combines the leaders in Class 3 RFID. The added development capacity and complementary design ideas will allow us to accelerate the product road map and build a leading position in the applications and markets for Class 3 RFID technology."

Maxim Division Vice President Chris Neil commented, “The combination of these complementary teams creates a clear leader in this emerging Class 3 RFID technology. The Maxim team is leading the Class 3 world-wide standards definition and development, and the Intelleflex team is the leader in Extended Capability RFID product development. ”

"We saw this spin-out combination as a natural fit that further strengthens Intelleflex's position," added Ketan Patel of New Venture Partners, who recently led a $8M investment round in Intelleflex. "The Maxim team was doing great work on a parallel path with Intelleflex. By joining forces, they'll be able to move further, faster toward an impressive set of new extended capability RFID products for major market impact in 2010 and beyond." New Venture Partners LLC, is a global venture capital firm dedicated to corporate technology spinouts, with over $700 million under management..

In total, seven engineers from Maxim will be joining the team at Intelleflex, and will be based in Dallas, TX and at Intelleflex's headquarters in Santa Clara, CA.