Thursday, December 3, 2009

SiTune Corporation Secures Series B Financing with Greenlane Investments LLC

SAN JOSE, Calif.--(BUSINESS WIRE)--SiTune Corporation, a leader in CMOS radio-frequency (RF) and mixed signal solutions for mobile, cable and terrestrial TV, announced that it has secured its Series B financing with current investor Greenlane Investments LLC. SiTune will use the proceeds of the new financing for ramping production of its latest generation of state of the art Mobile Digital TV and Universal CMOS TV tuners based upon its P2TUNE architecture and grow its international sales infrastructure.

“The message from our customers and partners in ASIA pacific and North America validities a strong demand for SiTune’s Multiple Standard RF CMOS TV Tuners,” said Vahid Toosi President and CEO of SiTune Corporations. “In order to address the imminent volume, we are ramping up our production infrastructure and aggressively expanding our International presence to support and expand our customer base.”

“Greenlane is pleased about its investments in SiTune Technology and corresponding Market. SiTune has been the technology leader for high performance, ultra low power and highly integrated CMOS TV Tuners,” said Dr. Sam Heidari, managing partner at Greenlane Investments LLC. “Technology development phase of SiTune has been flawless. We are excited to participate with SiTune as it demonstrates the leadership to rapidly expand the Digital Mobile TV and worldwide CMOS TV Tuner market.”

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