Thursday, May 27, 2010

ClariPhy Announces $24 Million Investment, New Strategic Alliances

Irvine, CA (May 26, 2010) – ClariPhy Communications, a leader in ultra high speed mixed signal, digital signal processing (MXSP) integrated circuits for optical networks, today announced that it has secured $24M in series C funding. The financing includes new strategic investors – Oclaro, a tier-one provider of optical communications and laser components, and multiple telecom OEMs. All ClariPhy’s existing venture investors participated in this round, including Norwest Venture Partners, Allegis Capital, Onset Ventures and Pacific General Ventures.

ClariPhy will use the funding to deliver a new class of single chip MXSP ICs that significantly increase an optical network’s reach and tolerance to impairments (such as chromatic dispersion, polarization mode dispersion and fiber nonlinearity), while reducing cost of ownership for both OEMs and Service Providers. The company’s line of 10G, 40G and 100G networking chips are based on advanced MXSP schemes such as Maximum Likelihood Sequence Estimation (MLSE) and Coherent Detection that approach the limits of achievable performance. ClariPhy’s implementation of these schemes in 40 nm single-chip CMOS enables equipment designers to reduce cost and power by integrating multiple system functions into customized System on Chip (SoC) solutions.

Driving demand for these MXSP ICs is the growing adoption of a variety of new broadband services from video and social networking to voice-over-IP and cloud computing. With analysts predicting that network traffic will grow by more than 40% annually over the next five years, network operators are rapidly migrating from 10G to 40G transmission rates and beyond.

“We are honored to have such a quality group of investors participate in our financing,” said Dr. Paul Voois, cofounder and CEO of ClariPhy. “As transmission rates increase, network equipment designers need low-cost, low-power solutions that extend reach and minimize signal impairment across high performance networks. This funding will enable us to deliver the MXSP technology that addresses their needs. Our new partnerships with Oclaro and others open up exciting opportunities to gain insight into customer problems, integrate our innovative technology into new ASIC and SoC applications, and generate significant new revenue streams.”

Strong endorsement

Reflecting the tremendous potential of ClariPhy’s MXSP technology, a significant portion of the funding announced today came from the company’s new strategic partners. Oclaro, a leading supplier of optical components for 40G regional and metro networks, will use ClariPhy’s technology to expand into the 100G Coherent Long Haul and Ultra Long Haul markets. “As optical networks rapidly move toward 100G, the importance of DSP and mixed-signal ICs increases,” noted Alain Couder, CEO of Oclaro, Inc. “By investing in and partnering with ClariPhy, we believe we can offer our customers best-in-class electronics and optical technology as a complete solution.”

The two firms have a history together. In 2009 Oclaro used ClariPhy’s MLSE IC to boost the performance of its TL9000 transponder for 10G networks.

ClariPhy’s existing venture investors view this round of funding as a major stepping stone for the company. “The management team’s history of consistently delivering market leading ICs and securing blue chip customer strategic support speaks to their ability to solve real problems for their customers,” said Robert Abbott, general partner at Norwest Venture Partners. ”We believe they have an exciting funnel of products that have the potential to become the industry standard and generate significant revenue.”

About ClariPhy — ClariPhy Communications, Inc. is a fabless semiconductor company developing mixed signal, advanced digital signal processing ICs targeting 10, 40, and 100 Gbps networks in enterprise backbone, enterprise data center and telecom environments. ClariPhy’s ICs enable IT and network management to significantly improve network performance and lower cost. ClariPhy’s investors include Norwest Venture Partners (NVP), Onset Ventures, Allegis Capital and Pacific General Ventures. ClariPhy is headquartered in Irvine, California with offices in Los Altos, California and Cordoba, Argentina. For more information, please visit

About Oclaro – Oclaro, Inc. is a Tier 1 provider of optical communications and laser components, modules and subsystems for a broad range of diverse markets, including telecommunications, industrial, scientific, consumer electronics and medical. Oclaro is a global leader dedicated to photonics innovation with cutting-edge research and development (R&D) and chip fabrication facilities in the U.K., Switzerland and Italy and in-house and contract manufacturing sites in the U.S., Thailand and China. To support its diverse and global customer base, Oclaro maintains design, sales and service organizations in each of the major regions around the world. For more information visit

About Norwest Venture Partners (NVP) - Norwest Venture Partners (NVP) is a global venture and growth equity investment firm that manages more than $3.7 billion in capital. It has offices in Palo Alto, California, Mumbai and Bengaluru, India and Herzelia, Israel. NVP makes early to late stage venture and growth equity investments in U.S. and global companies across a wide range of sectors including: information technology, business services, financial services, technology enabled services and consumer. NVP has actively partnered with entrepreneurs to build great businesses for more than 49 years and has funded over 450 companies since inception. For more information, please visit

Monday, May 24, 2010

MEMC Announces Agreement to Acquire Solaicx

ST. PETERS, Mo., May 24, 2010 /PRNewswire via COMTEX/ --MEMC Electronic Materials, Inc. (NYSE: WFR) today announced it has reached a definitive agreement to acquire privately held Solaicx, headquartered in Santa Clara, California.

Solaicx has developed proprietary continuous crystal growth manufacturing technology which yields low-cost, high-efficiency monocrystalline silicon wafers for the photovoltaic solar industry. The Solaicx technology allows for very high-volume crystal growth compared to the silicon ingots produced in the traditional precision semiconductor manufacturing process. The enhanced electrical performance of wafers from Solaicx ingots allows solar cell manufacturers to create higher efficiency cells with very competitive silicon costs. In addition to these customer benefits, the combined company will have low-cost polysilicon and crystal operations in North America and sales and support offices around the world, allowing the company to provide customers with industry leading customer service.

Solaicx has approximately 80 employees and a large-scale production facility in Portland, Oregon.

"Solaicx, along with its people and technical expertise, is a great addition to MEMC," said Ken Hannah, President of MEMC Solar Materials. "Solaicx's innovative and advanced manufacturing technology should enable us to reduce costs and improve efficiency, while enhancing our ability to drive the solar industry toward grid parity."

"Bringing MEMC and Solaicx together now is the right thing to do at the right time," continued Hannah. "The monocrystalline silicon market is forecast to grow at a compound annual growth rate of about 50 percent during the next three years. This transaction positions MEMC to significantly reduce the cost of monocrystalline silicon."

"We are pleased to be joining forces with MEMC," said David Ranhoff, President and CEO of Solaicx. "Our technology combined with MEMC's footprint and scale will enable our customers to further reduce the cost of solar electricity."

MEMC will pay to the existing securityholders of Solaicx at closing cash in the amount of $66 million, plus an additional amount in cash equal to amounts which have been recently invested in, or which may be invested prior to closing in Solaicx by its existing securityholders. The aggregate additional investment amount is estimated to be approximately $10 million. Solaicx's indebtedness for borrowed money will be extinguished at closing and is included in these amounts. The merger consideration is also subject to adjustment based on the net working capital of Solaicx at closing. The agreement also includes an earnout, should Solaicx meet certain performance targets in 2010 and 2011, of up to an additional $27.6 million payable to Solaicx securityholders, consisting of cash and MEMC common stock at the election of the securityholder. The stock portion of the earnout consideration, if any, will be issued to Solaicx securityholders as a private placement.

The acquisition is expected to close by the end of June 2010, subject to customary closing conditions, including Solaicx shareholder approval, and the receipt of regulatory approvals. MEMC expects the acquisition to be accretive to earnings in 2011, subject to purchase accounting adjustments.

GCA Savvian Advisors, LLC acted as exclusive financial advisor to MEMC in connection with this transaction.

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 MEMC common stock in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About MEMC

MEMC is a global leader in the manufacture and sale of wafers and related intermediate products to the semiconductor and solar industries. MEMC is also a developer of solar power projects and North America's largest solar energy services provider. MEMC has been a pioneer in the design and development of silicon wafer technologies for 50 years. With R&D and manufacturing facilities in the U.S., Europe and Asia, MEMC enables the next generation of high performance semiconductor devices and solar cells. MEMC's common stock is listed on the New York Stock Exchange under the symbol "WFR" and is included in the S&P 500 Index. For more information about MEMC, visit

About Solaicx, Inc.

Solaicx manufactures low-cost, high-quality silicon ingots using proprietary equipment optimized for the solar industry. Solaicx is "making solar electricity cost effective"(R) by reducing the manufacturing cost of crystalline photovoltaics, which comprise more than 80 percent of all solar cells on the market today. The Solaicx process provides significant competitive advantages in terms of cost, quality and silicon utilization. For more information about Solaicx, visit

Thursday, May 20, 2010

Cisco Announces Agreement to Acquire CoreOptics

SAN JOSE, Calif. – May 20, 2010 – Cisco today announced its intent to acquire privately held CoreOptics Inc., a designer of digital signal processing (DSP) solutions for high-speed optical networking applications. Based in San Jose, with the majority of its employee base in Nuremberg and Gerlingen, Germany, CoreOptics will enable Cisco to equip service provider customers with highly advanced 100 Gigabits per second (Gbps) transmission technology to scale their networks to meet the demands of rapidly growing Internet Protocol traffic driven by video, mobility and cloud services. According to Cisco's Visual Networking Index research, global IP traffic will increase fivefold from 2008 to 2013 with a 40 percent compound annual growth rate.

"With this acquisition, Cisco reinforces its commitment to continue to invest in its core networking business and to deliver IP next-generation networks at 100 Gbps and beyond," said Surya Panditi, vice president and general manager, Cisco's Service Provider Access and Transport Technology Group. "We are focused on continuing to deliver an industry-leading portfolio of routing, switching and optical transport systems that enable our service provider customers to better address the ever-present business challenge of managing tight capital and operating budgets while accommodating the tremendous growth in network traffic."

The next phase of innovation in optical networking will be driven by sophisticated modulation formats and advanced DSP technologies. These new capabilities enable the efficient transmission of large amounts of data over existing fiber optic installations. By enabling high speeds across an existing infrastructure, Cisco and CoreOptics will address the challenge facing service providers of accommodating the growth in network traffic while managing tight capital expenditure budgets.

The acquisition of CoreOptics expands Cisco's optical presence in Europe, builds on its existing European operations in Monza, Italy, and will contribute to continued innovation in optical networking. CoreOptics will bring to Cisco a team with strong expertise in digital ASIC design, advanced modulation formats, as well as optical systems, applications and network architecture. Upon completion of the acquisition, CoreOptics employees will become part of the Cisco Service Provider Technology Group and work with Cisco's existing optical engineering teams in Monza, Italy; Bangalore, India; and Richardson, Texas.

Under the terms of the agreement, Cisco will pay approximately $99 million in cash and retention-based incentives in exchange for all shares of CoreOptics. The acquisition is subject to customary closing conditions and is expected to close in the second half of calendar year 2010.

Wednesday, May 19, 2010

Movidius secures Series B investment to fuel growth in mobile video

Dublin, Ireland – 19 May 2010 – Mobile video specialist Movidius today announced that it has secured US$7.5 million in Series B investment. The funding round has been concluded with existing shareholders including Celtic House Venture Partners, Capital E, Emertec Gestion, AIB Seed Capital Fund and angel investors. This round will be used to fund Movidius’ growth plans as the company begins deployment of its Myriad platform providing advanced imaging capabilities including 3D video capture in the next generation of mobile handsets.

Movidius’ innovative low-power processor and application software technology enables a wide range of advanced multimedia features on mobile devices including real-time editing of video content, 3D mobile video, as well as a variety of high-quality video enhancements for improving video download bandwidth utilization. By delivering the best mobile video experience for end-users to capture, edit, view and share content directly from their handset, Movidius’ Myriad platform helps mobile handset OEMs substantially differentiate their multimedia smartphone offering while also providing operators with significant cost advantages and new revenue streams.

Sean Mitchell, CEO Movidius commented, “This funding is a powerful validation of Movidius’ technology and market traction. It highlights the continued support and confidence from our shareholders. This investment will enable us to drive our first products into high volume production and to capitalize on the exploding mobile industry demand for the unique new user experiences we are enabling with the Myriad platform such as 3D mobile video.”

Roger Maggs, Partner, Celtic House Venture Partners commented, “In Movidius we immediately recognized a team that had developed disruptive technology and that provides solutions that address both operator and OEM needs for greater differentiation of their products and services, especially in the increasingly competitive Smartphone segment. We continue to invest in Movidius because we are confident of its ability to deliver a truly world class technology that will fundamentally revolutionize the way in which users interact with their mobile handsets in a rapidly growing market.”

“Despite tough conditions in the global economy, Movidius’ success and progress over the past year reinforces the potential of its ground-breaking technology,” commented Rudi Severijns, Partner, Capital-E. “Industry drivers and application trends clearly indicate a shift towards new mobile system partitioning approaches and Movidius is in a strong position with its flexible architecture to take full advantage of this fantastic opportunity.”
Movidius is now sampling product to major players in the mobile market, and is moving from development to product deployment. Mass production of Movidius’ products is expected to begin later in 2010, with mobile handsets containing those products due to hit the market early in 2011.

About Movidius
Movidius is a fabless semiconductor company whose technology delivers unique video editing and post- production capabilities for the creation of User Generated Content for mobile social networking. Movidius’ video processor hardware and application software is specifically designed to suit low power mobile phone and consumer electronics, enabling handset manufacturers to create highly differentiated products and enhanced user experiences.

Movidius has offices in Dublin and Hong Kong, with a substantial software development centre in Romania. Movidius is venture backed, with investors including: Celtic House Venture Partners, Capital-E, Emertec Gestion, AIB Seed Capital Fund and Enterprise Ireland.
For more information on Movidius, visit:

Icera Secures $45M Financing To Accelerate Growth

Bristol, UK, May 19, 2010 Icera Inc., the mobile broadband semiconductor company, today announced that its investors have provided a further $45M in equity capital to accelerate the growth of its market share. All existing preferred shareholders, including Accel Ventures, Amadeus Capital Partners, Atlas Venture, Balderton Capital and DFJ Esprit, participated fully in the funding round.

Icera is continuing to extend its global market share for chipsets used in high performance, high speed mobile broadband devices, such as USB modem sticks and embedded modules for notebooks, netbooks, tablets and other emerging devices. The new financing will also provide additional funding for the Company's expansion into the fast growing smartphone market.

Stan Boland, President & CEO, Icera Inc, said: "We are delighted to attract additional equity financing for our business. It comes at a time when we are achieving strong endorsement from mobile network operators and a sharp growth in our shipments to the world's largest device manufacturers. The new funding will allow us to expand our customer-facing engineering support and accelerate the dates we propel our technology into the fast-growing smartphone market. Here, our advanced receiver technologies will bring real user gains whilst materially reducing network operators' cost of service delivery."

Kevin Comolli, Managing General Partner at Accel Partners, said: "We're impressed with Icera's strong revenue growth, the diversification of its customer base as it delivers this growth and its continued technology and performance leadership, ensuring its products are strongly differentiated in very large end-markets."

Icera's Adaptive Wireless™ modem technology is focused today on 3G (HSPA+, HSPA) and 2G (GSM, GPRS, EDGE) cellular voice and data modem chipsets and firmware, with 4G (LTE) scheduled in the near future. Adaptive Wireless™ executes the entire modem in software on a new Icera high performance processor.

About Icera
Icera is a fabless semiconductor company, pioneering high performance, low power, soft modem chipsets for the fast growing mobile broadband device market. Icera technology delivers the highest performance modem solutions for USB dongles, laptops, netbooks and smartphones. Founded in 2002, Icera is headquartered in the UK, with design locations in the UK, France, USA and China, with customer engineering and sales offices in Europe, Asia and the USA. For more information, visit the Icera web site at

Thursday, May 13, 2010

Cadence to Acquire Denali

SAN JOSE, CA and SUNNYVALE, CA--(Marketwire - May 13, 2010) - Cadence Design Systems, Inc. (NASDAQ: CDNS), a leader in global electronic design innovation, and Denali Software, Inc., a leading provider of electronic design automation (EDA) software and intellectual property (IP), today announced that the companies have entered into a definitive merger agreement under which Cadence will acquire Denali for $315 million in cash. Denali is expected to have approximately $45 million in cash at closing. In alignment with its EDA360 strategy, this transaction expands Cadence's solution portfolio to deliver efficient and cost-effective system component modeling and IP integration. The transaction was unanimously approved by the Cadence and Denali Boards of Directors.

"Denali's strengths in Memory Models, Design IP, and Verification IP accelerate the execution of Cadence's recently announced EDA360 vision, creating new opportunities for the company," said Lip-Bu Tan, president and chief executive officer of Cadence. "We are excited to welcome Denali's talented employees and look forward to delivering the value inherent in this combination."

"Bringing our two companies together provides a path for future growth, as well as expanded opportunities for our customers and employees," said Sanjay Srivastava, president and chief executive officer of Denali. "Cadence is a leader in global electronic design and is the right match for Denali and its employees. I am personally excited to be a part of the Cadence team and to help realize the EDA360 vision."

EDA360 centers on three components: (1) System Realization -- the development of a complete hardware/software platform with all of the capabilities needed to begin applications development and deployment; (2) SoC Realization -- the development of a single system on chip (SoC), including silicon IP and "bare-metal" software; and (3) Silicon Realization -- everything required to get a design into silicon, including the creation and integration of large digital, analog, and mixed-signal IP blocks.

The merger will accelerate the delivery of the solutions outlined in this vision:

  • Denali's memory models provide system component modeling and verification capabilities required in System Realization.
  • Denali's Design IP products enhance the Cadence Open Integration Platform required in SoC Realization.
  • Denali's ease-of-use and well-established support of third-party simulators by its Verification IP (VIP), coupled with the focus on metric-driven and compliance management of Cadence's VIP, make this combination highly complementary and necessary for SoC Realization, and enable Cadence to expand its third-party simulation support.
Cadence intends to finance the transaction with available cash. The transaction is expected to be accretive to Cadence's fiscal year 2011 earnings per share.

About Cadence
Cadence enables global electronic design innovation and plays an essential role in the creation of today's integrated circuits and electronics. Customers use Cadence software and hardware, methodologies, and services to design, verify, and implement advanced semiconductors, consumer electronics, networking and telecommunications equipment, and computer systems. The company is headquartered in San Jose, California, with sales offices, design centers, and research facilities around the world to serve the global electronics industry. More information about the company, its products, and services is available at

About Denali
Denali is a world-leading provider of electronic design automation (EDA) tools, intellectual property (IP), software and design platforms for system-on-chip (SoC) design and verification. Denali delivers the industry's most widely-used solutions for deploying PCI Express, USB, NAND Flash and DDR SDRAM subsystems in electronic designs. Developers use Denali's EDA, IP products, and services to simplify design, reduce risk, and accelerate time-to-market for their complex SoC designs. Founded in 1995, Denali is headquartered in Sunnyvale, California and serves the global electronics industry with direct sales and support offices in North America, Europe, Japan, and Asia.

Wednesday, May 12, 2010

Sand 9 Closes $12.0 Million in Series B Funding

CAMBRIDGE, Mass.--(BUSINESS WIRE)--Sand 9, Inc., a start-up company developing timing oscillator and frequency control technology for the wireless device market, today announced it has closed a $12 million Series B round of financing led by new investor Commonwealth Capital Ventures. Previous investors Flybridge Capital Partners, General Catalyst Partners and Khosla Ventures also participated in the round. The funding will be used to accelerate sales and marketing and expand product manufacturing to volume shipment levels.

As part of the funding, Stephen McCormack, a general partner with Commonwealth Capital Ventures, will join David Aronoff, a general partner at Flybridge Capital Partners, and Hemant Taneja, a general partner at General Catalyst Partners, on the company’s Board of Directors.

Sand 9 is dedicated to the design of components that will dramatically improve the performance and increase the capabilities of electronic devices. The company is introducing a disruptive MEMS technology, the Temperature Compensated MEMS Oscillator (TCMOTM), to replace quartz crystal frequency sources in high performance applications such as 3G cellular, GPS and other communications. The company’s proprietary technology offers significant improvement over existing solutions and aims to dramatically impact the wireless components market.

“Steve had been tracking the company closely for a long time and was very impressed with our progress. His proposal to lead a Series B round was compelling because we knew the investment would allow us to better meet the huge initial customer demand we expect once we launch,” said Sand 9 CEO Vince Graziani. “We are thrilled to welcome Steve and the Commonwealth Capital Ventures team to our investor family and look forward to working with them as we bring our game-changing technology to market later in the year.”

”Commonwealth has been following Sand 9 closely for over two years. Over this time we have become more and more excited about the company’s top-notch team, its disruptive and defensible proprietary technology, and its large market opportunity,” said Commonwealth General Partner Steve McCormack. “We look forward to working with the management team and our strong investment partners to continue to build a market-leading company.”

About Sand 9

Founded in 2007, Sand 9 is based in Cambridge, Mass. with a design center in Chandler, AZ. The company is a venture funded startup, dedicated to the design of components that will dramatically increase the capabilities of electronic devices. Sand 9’s investors include Commonwealth Capital Ventures, Flybridge Capital Partners, General Catalyst, and Khosla Ventures. For more information, visit

Tuesday, May 11, 2010

Sidense Raises $5 Million in Venture Capital to Expand Product Development

OTTAWA--(Marketwire - May 11, 2010) - Sidense Corp., a leading developer of Logic Non-Volatile Memory (LNVM) IP cores, announced today that it has raised $5 million in a Series B, growth capital venture capital financing round led by VentureLink Funds of Canada. Also participating in this round of funding are existing funding partners Tech Capital Partners and Trellis Capital of Canada and Vertex Venture Capital of Israel. This money will be used to expand Sidense's development of embedded non-volatile memory (NVM) products for use in systems-on-chips (SoCs) implemented in leading-edge silicon processes and to enhance the Company's sales and marketing efforts.

Sidense's proprietary 1T-Fuse™ single transistor, split-channel antifuse technology enables the design and development of one-time-programmable (OTP) or emulated multi-time-programmable (MTP) memory blocks that are reliable, low-cost, scalable and secure alternatives to discrete flash, Mask ROM, electronic fuse (eFuse) and embedded flash memory. Semiconductor and electronic systems companies use Sidense memory IP in the design of complex integrated circuits and systems-on-chips (SoCs), which are found in a wide range of consumer, communications, industrial, automotive and medical products.

"Sidense has industry leading technology, a large and growing pipeline of customers and strong foundry relationships. We look forward to participating in the growth of the Company," said Jim Whitaker, Managing Partner of VentureLink Funds.

"This additional funding validates Sidense's leadership position in the rapidly expanding non-volatile memory IP market," said Ken MacAskill, Sidense Chief Financial Officer. "The investment will provide the necessary capital to support the company's revenue growth to profitability."

About Sidense Corp.
Sidense Corp. provides secure, very dense and reliable non-volatile, one-time programmable (OTP) memory IP for use in standard-logic CMOS processes with no additional masks or process steps required and no impact on product yield. The Company's innovative one-transistor 1T-Fuse™ architecture provides the industry's smallest footprint, most reliable and lowest power Logic Non-Volatile Memory (NVM) IP solution. With over 60 patents granted or pending, Sidense OTP provides a field-programmable alternative solution to Flash, mask ROM and eFuse in many OTP and MTP applications.

Sidense OTP memory, embedded in over 90 customer designs, is available from 180nm down to 40nm and is scalable to 28nm and below. The IP is offered at and has been adopted by all top-tier semiconductor foundries and selected IDMs. Customers are using Sidense OTP for analog trimming, code storage, encryption keys such as HDCP, WHDI, RFID and Chip ID, medical, automotive, and configurable processors and logic. For more information, please visit

About VentureLink Funds
With approximately $240 million under management, Canadian-based VentureLink Fund is a diverse group of labour-sponsored funds ("LSIF"). As part of the VentureLink Funds Group, the objective of the VentureLink Brighter Future Fund is to achieve long-term capital appreciation by making investments in the securities of eligible businesses involved in developing technologies such as software, broadband, Internet, fibre optic, telecommunication, wireless, hardware and biotechnology industries, and companies involved in Canadian infrastructure, essential resource and essential service industries such as energy, water and waste management. Please visit VentureLink at

Wednesday, May 5, 2010

Netronome Secures $23 Million in Series D Funding

SANTA CLARA, Calif.--(BUSINESS WIRE)--Netronome, the leading developer of network flow processors, today announced it has closed a $23 million Series D round of funding. The funds will accelerate Netronome’s growth in the rapidly expanding network flow processor market. With the new investment, Netronome will scale technical support for numerous customer design wins and expand global operations in sales, marketing and manufacturing.

The oversubscribed round was led by new investor DFJ Esprit, and included previous investors Raptor Group, Tudor Ventures and Top Technology. The round also included investment from industry luminaries - FORE Systems founders Robert Sansom and Eric Cooper, and Analysys founder David Cleevely.

“Netronome’s award winning network flow processors have changed the way people are building intelligent networking products,” said Krishna Visvanathan, partner at DFJ Esprit and new member of the Netronome board of directors. “Netronome’s record revenue growth and new design wins at top-tier networking OEMs confirm the momentum and make clear the opportunity to remain the leading provider of network flow processors. We look forward to working with the management team to drive this next phase of growth.”

The new funding comes during a period of record growth for the company, including a five-fold increase in annual revenue and five consecutive quarters with record sales. Netronome plans to more than double its revenue in 2010. In addition to its accelerated growth from current products, Netronome recently announced it began shipping its new flagship product, the NFP-3240, to customers in late 2009. Customer design wins include shared service blades in switches and routers, 3G and LTE wireless infrastructure, security appliances and virtualized servers. The products resulting from these top-tier network equipment OEM partnerships will reach production in the second half of 2010.

“Many customers share our vision for intelligent and secure networking platforms based on x86 processors. More importantly they recognize that network flow processors are the key component in scaling these designs,” said Niel Viljoen, founder and CEO of Netronome. “This funding will allow us to successfully manage our growth by providing the additional sales support, design assistance and manufacturing supply required by our increasing number of design wins.”

About Network Flow Processors

Netronome Network Flow Processors are the industry’s only processor specifically designed for tight coupling with embedded multicore Intel® and x86 processors. The NFP-3240 brings breakthrough performance to a broad range of demanding network, security and content processing products used in 40 Gbps and 100 Gbps networks. It is the only line of processors backward compatible with the market‐leading Intel IXP28XX. Netronome’s processors are supported by comprehensive tools, and a broad ecosystem of premier partners and suppliers.

About Netronome

Netronome is a leading developer of highly programmable semiconductor products that are used for intelligent flow processing in network and communications devices. Netronome’s solutions include network flow processors and acceleration cards that scale from 10 to 100 Gbps. They are used in carrier-grade and enterprise-class communications products that require deep packet inspection, flow analysis, content processing, virtualization and security. Netronome’s products are developed in labs in Santa Clara, CA, Boxborough, MA and Pittsburgh, PA. To learn more about Netronome and its products, please visit

About DFJ Esprit

DFJ Esprit is a leading cross-stage venture capital firm that invests in European technology companies. Members of the DFJ Esprit team have been active in technology investing since 1985 and have experience of investing in over 200 companies and generating strong returns for investors through building valuable global companies alongside the founders and management teams.

The DFJ Esprit partners have invested in many of Europe’s most successful venture exits of recent years, including, Alphamosaic, KVS, CSR, Domantis and Arakis. DFJ Esprit is the exclusive European partner for Silicon Valley based Draper Fisher Jurvetson (DFJ) Global Network of venture funds, the largest such network in the world with $6bn under management and offices in 30 cities spanning four continents. Encore Ventures is a division of DFJ Esprit with a dedicated team focused on the acquisition of venture capital portfolios.