Friday, June 25, 2010

SiOnyx Rasies $6.3M in a $12M round

In a June 22nd, 2010 SEC Form D filing, SiOnyx has disclosed they have raised $6.3M of a proposed $12M equity offering.

Monday, June 21, 2010

National Semiconductor Acquires GTronix

SANTA CLARA, Calif., June 21 /PRNewswire-FirstCall/ -- National Semiconductor Corp. (NYSE: NSM) today announced it has acquired the technology of GTronix, a fabless semiconductor company specializing in programmable and adaptive analog sensory processing technology.

GTronix's solutions enhance audio user-interface and voice processing and are well suited for applications where small form factor, low power, low latency and undistorted signals are critical. Its proprietary technology provides very low power solutions for noise cancellation in mobile applications such as wireless handsets and audio accessories.

For more than 50 years, National Semiconductor has been a world leader in analog technology. Its vast portfolio of analog products includes acoustic integrated circuits and subsystems, which enable high-fidelity sound in a myriad of electronic systems. National's audio product portfolio includes the energy-efficient Boomer™ audio amplifier, which has been adopted by numerous wireless handset customers, including global leaders in the personal mobile device market.
GTronix is based in Fremont, Calif.

Terms of the transaction are not being disclosed.

Wednesday, June 16, 2010

Inphi files for IPO

SUNNYVALE, Calif., June 16, 2010 – Inphi Corporation, a fabless provider of high-speed analog semiconductor solutions for the communications and computing markets, 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 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, Deutsche Bank Securities Inc. and Jefferies & Company, Inc. are acting as book-running managers for the offering. Thomas Weisel Partners LLC and Needham & Company, LLC are acting as co-managers for the offering.

Tuesday, June 15, 2010

picoChip Secures $20M Equity Funding

BATH, UK – 14 June 2010 – picoChip, the leading supplier of semiconductors and software for femtocells, today announced that it has passed the milestone of one million chips sold and is on track to achieve over 50% quarter-on-quarter sequential revenue growth this calendar quarter. To support expansion plans and strengthen the company’s balance sheet during this period of exceptional growth the company has secured $20m of additional equity funding.

The growth in demand for the company’s products is driven by the picoXcell™ product family that is powering the global deployments of 3G femtocells. With the growth in mobile data traffic, these low-cost plug-and-play infrastructure devices are increasingly viewed as the key to the architecture of all future cellular networks, and have created a multi-million-unit opportunity for picoChip products. picoChip is the only company today shipping large volumes of femtocell silicon, with 25 femtocell customers and products supporting the HSPA+, LTE and TD-SCDMA cellular standards.

“As we execute against our plan we have raised additional equity funding that will set the company on an even steeper growth curve,” said Nigel Toon, CEO of picoChip. “A major shift is happening in the cellular market, creating big opportunities for picoChip. With our field-proven technology, volume shipments and fast revenue growth, this investment allows us to move aggressively to grasp those opportunities.”

As part of its growth plans, picoChip is adding engineers at its development centers in Bath and Beijing, and will move to a new headquarters in Bath, UK. The plans also include accelerated product development in key areas such as LTE, HSPA+ and self-organizing networks.
In a heavily over-subscribed funding round, picoChip’s existing investors Atlas Venture, Highland Capital Partners, Intel Capital, Pond Ventures, Rothschild, Samsung, and Scottish Equity Partners all participated.

“This is an exciting time in picoChip’s life,” commented Jonathan Brooks, picoChip’s Chairman. “Our newly strengthened balance sheet gives us a solid platform on which to base the next phase in the company’s development.”

“The rapid take-up of smartphones and other always-connected devices, the huge growth in data traffic on 3G HSPA networks and the transition to LTE and 4G are disruptive changes for the cellular market,” added Nigel Toon. “Technology advances like ‘flat architecture’ and ‘small cell’ will mean a radical shake-up in the established landscape.”

In addition to residential and enterprise applications, femtocells’ plug-and-play self organizing network technology is also being applied to extend high speed 3G/4G services into buildings and public spaces and to expand coverage and capacity in metro and rural areas.

Twelve cellular network operators, including Vodafone, Softbank and AT&T, have launched femtocell offerings. Of these, the majority use picoChip silicon. picoChip has secured over twenty-five femtocell customers including Alcatel Lucent, Sagem, Ubiquisys and ip.access.
Research from industry analyst ABI indicates that over 60 carriers around the world are engaged in femtocell trials and evaluations, that more than 50% of US households are interested in femtocell products, and that femtocell shipments will exceed 40M units by 2014.

Monday, June 14, 2010

SMSC Announces Acquisition of STS

HAUPPAUGE, N.Y.--(BUSINESS WIRE)--SMSC (NASDAQ: SMSC), a leading semiconductor company creating valued connectivity ecosystems, today announced that it has acquired Wireless Audio IP B.V. (“STS”), a fabless designer of plug-and-play wireless solutions for consumer audio streaming applications, including home theater, headphones, LED TVs, PCs, gaming and automotive entertainment. Customers include many of the industry’s leading consumer and PC brands. STS’s robust, low latency digital audio baseband processor and integrated module solutions are highly complementary to SMSC’s Kleer® wireless audio products. Together, the STS and Kleer teams intend to collaborate on developing best-in-class baseband processor and audio networking solutions that allow end users to enjoy state-of-the-art entertainment in the home, in the car or on the go.

“We are excited about the expansion of SMSC’s wireless audio product portfolio with the acquisition of STS,” said Christine King, President & Chief Executive Officer of SMSC. “The growth potential in the wireless audio market is significant as this technology is no longer just a unique application for audio enthusiasts. With this technology, we are enabling a new experience with high quality, untethered digital stereo audio transmission when listening to music, watching movies on a PC or TV and for playing videogames. We believe we are well positioned to build our market position now that we have assembled the technology and talent of two of the industry’s leading designers of wireless audio.”

Founded in 2003, STS has developed patented custom audio processing technology that is universal and highly scalable from previous generations, creating easy and efficient design environments for customers. Its wireless platform has shipped in millions of units of customer product deployed in a wide array of consumer applications. STS is headquartered in Amsterdam, The Netherlands, with offices in Singapore and China.

SMSC expects Kleer and STS to contribute approximately $15 million in revenue in fiscal 2011 and the acquisitions are expected to be neutral to slightly accretive during SMSC’s current fiscal year 2011. Under terms of the share purchase agreement, SMSC paid $22 million in cash and additional cash payments of up to $3 million may occur upon achievement of certain performance goals. The acquisition closed on June 14, 2010.

Friday, June 11, 2010

Synopsys Acquires High-level Synthesis Technology from Synfora, Inc.

MOUNTAIN VIEW, Calif., June 10 /PRNewswire-FirstCall/ -- Synopsys, Inc. (Nasdaq: SNPS), a world leader in software and IP for semiconductor design, verification and manufacturing, today announced it has acquired technology, engineering resources and other assets of Synfora, Inc., a provider of C/C++ high-level synthesis tools used to design complex systems-on-chips (SoCs) and FPGAs. The asset acquisition strengthens Synopsys' position in system-level design and verification and enhances the company's FPGA-based prototyping solutions.

Synfora's technology enables designers to quickly create and synthesize IC building blocks starting from a description written in the C or C++ programming language. The advantages of Synfora's technology, including high capacity and quality of results for performance, area and power, are production-proven in leading-edge designs. Customers who have adopted Synfora's tools have experienced the benefits of the technology for their FPGA and SoC designs through integration with Synopsys' Synplify® Premier synthesis and Galaxy™ Implementation Platform.

"This acquisition adds proven C/C++ high-level synthesis technology to our system-level solutions portfolio and broadens Synopsys' comprehensive solutions for block creation and optimization," said Joachim Kunkel, senior vice president and general manager of the Solutions Group at Synopsys. "It underscores Synopsys' clear commitment to being the leading EDA supplier of system-level solutions for SoC design, software development, hardware/software integration and system validation."

The terms of the deal, which closed today, have not been disclosed.

Wednesday, June 9, 2010

ON Semiconductor Acquires Sound Design Technologies, Ltd.

PHOENIX--(BUSINESS WIRE)--ON Semiconductor Corporation (Nasdaq: ONNN), a premier supplier of high performance, energy efficient silicon solutions for green electronics, today announced it has acquired privately held Sound Design Technologies, Ltd. (SDT) from an affiliate of Global Equity Capital, LLC, in an all cash transaction for initial consideration of approximately $22 million.

“Matching SDT’s cutting-edge technology with ON Semiconductor’s worldwide presence and industry expertise is a natural next step in the evolution of the business, also benefiting SDT customers building sophisticated hearing products.”
Under the terms of the acquisition, the seller will also have the ability to receive additional earn-out proceeds of up to $10 million if, among other things, SDT is able to meet certain revenue thresholds in 2010, 2011 and 2012. The initial consideration value represents approximately one times SDT’s first quarter 2010 annualized sales levels. SDT will now become an integrated part of ON Semiconductor’s Medical Division, based in Waterloo, Ontario, Canada.

“The acquisition of Sound Design Technologies solidifies our position as a leading supplier of ultra-low-power digital signal processing (DSP) technology for hearing aids and audio processing applications,” said Robert Tong, vice president of ON Semiconductor’s Medical Division. “In addition, the acquisition strengthens the company’s talent base and adds an experienced design and applications engineering team for the audiology segment. SDT’s advanced manufacturing expertise in chip-scale capacitors and high density packaging will also expand our capabilities in delivering advanced, highly miniaturized packaging technology, crucial for hearing aid and similarly size-constrained applications that demand medical-grade quality.”

Michael Hirano, executive vice president, operations of Global Equity Capital, stated, “Matching SDT’s cutting-edge technology with ON Semiconductor’s worldwide presence and industry expertise is a natural next step in the evolution of the business, also benefiting SDT customers building sophisticated hearing products.”

SDT is a leading designer and manufacturer of ultra-low-power semiconductor solutions for hearing aids and portable, battery-powered DSP applications, and a leading provider of advanced high density interconnect technologies used in custom miniaturized packages. Based in Burlington, Ontario, Canada, SDT has a 37-year history of innovation in developing miniaturized audio processors. The hearing instrument products and manufacturing operations of Gennum Corporation were acquired in 2007 to form SDT. For more information, visit www.sounddesigntechnologies.com.

About Global Equity Capital, LLC

Global Equity Capital, LLC (GEC) is a private equity firm focused on value creation through extensive operating expertise in small to middle-market transactions. GEC provides speed and flexibility in carve-outs of non-core assets from public and private entities, financial or operational turnarounds and growing businesses looking for operational and financial resource assistance. GEC is led by an experienced team, which has demonstrated over time a reliable track record of creating substantial value in its portfolio companies for shareholders and management. GEC is headquartered in Boulder, Colorado. For more information, visit www.globalequitycap.com.

About ON Semiconductor

ON Semiconductor Corporation (Nasdaq: ONNN) is a premier supplier of high performance, energy efficient, silicon solutions for green electronics. The company's broad portfolio of power and signal management, logic, discrete and custom devices helps customers efficiently solve their design challenges in automotive, communications, computing, consumer, industrial, LED lighting, medical, military/aerospace and power applications. ON Semiconductor operates a world-class, value-added supply chain and a network of manufacturing facilities, sales offices and design centers in key markets throughout North America, Europe, and the Asia Pacific regions. For more information, visit www.onsemi.com.

Monday, June 7, 2010

Emulex to Acquire ServerEngines

COSTA MESA, Calif.--(BUSINESS WIRE)--Emulex Corporation (NYSE:ELX) today announced that it has signed a definitive agreement to acquire ServerEngines Corporation, a privately held, fabless semiconductor company founded in 2004 and headquartered in Sunnyvale, California.

“Over the past two years, our partnership model with ServerEngines has been an extremely effective strategy to establish Emulex in both the 10Gb/s Ethernet and converged networking markets,” said Jim McCluney, Emulex’s President and Chief Executive Officer. “However, the combination of ServerEngines’ Ethernet and Internet Small Computer System Interface (iSCSI) expertise with our own data center technologies and world-class engineering team in an acquisition provides a significant opportunity to solidify Emulex’s Ethernet-driven network convergence strategy for 2011 and beyond,” McCluney added.

ServerEngines has two primary product families focused on the server and storage market:

► ServerEngines’ BladeEngine™ family of 10Gb/s Ethernet ASICs provides a best-of-breed performance, and is architected to meet the cost and footprint requirements for Local Area Network on Motherboard (LOM) applications. Using this ASIC for board level products, Emulex’s award-winning OneConnect™ Universal Converged Network Adapters (UCNAs) have been selected by leading server and storage Original Equipment Manufacturers (OEMs) including Dell, EMC, Hitachi Data Systems, HP, IBM and NetApp for connectivity solutions

► ServerEngines’ Pilot family of Server Management Controllers reside down on the motherboard enabling remote IP based “lights out” management capabilities including Baseboard Management Control, Graphics and KVM-Over-IP for server platforms. Pilot ASICs are currently being used by leading industry standard server OEMs and Original Design Manufacturers (ODMs) including Cisco, HP, NEC, and Unisys.

ServerEngines has approximately 170 employees, primarily engineers, based in Sunnyvale, California; Austin, Texas and Hyderabad, India.

McCluney continued, “We believe that the addition of LOMs and Pilot Server Management Controllers from the acquisition will broaden our strategic position as a key infrastructure provider to server OEMs by providing a single and simplified interface for customers to engage on future development, support and communications as converged networks move out of the labs and into production environments over the next year. We also expect the acquisition will provide a more cost effective model in the 10Gb/s Ethernet LOM and UCNA markets, as well as enabling us to more effectively address opportunities in the target storage market, as our volumes increase in 2011,” McCluney added. “We estimate that the incremental opportunity for the new products to be acquired, will add as much as $350 million to our Total Addressable Market (TAM) by 2013,” McCluney concluded.

Under the terms of the merger agreement and subject to satisfaction of the closing conditions, Emulex will acquire ServerEngines for approximately $78 million in cash and eight million shares of Emulex stock to be issued at closing. Using Friday’s closing price of $10.11, this would represent an additional $81 million of consideration. The agreement further provides for the payment of an additional four million shares of Emulex stock, which will be issuable if the ServerEngines business achieves certain milestones targeted for completion by the end of 2011. Emulex will also assume the outstanding ServerEngines debt, including debt owed to Emulex, which is currently $25 million, other liabilities, and ServerEngines stock options upon close. Both the Emulex and ServerEngines’ boards have unanimously approved the acquisition and it is expected to be completed in July 2010, subject to receipt of ServerEngines stockholder approval and satisfaction of other closing conditions.

BUSINESS OUTLOOK

Although actual results may vary depending on a variety of factors, many of which are outside the Company’s control, Emulex is reiterating its guidance of total net revenues in the range of $100 - $103 million for its fourth fiscal quarter ending June 27, 2010 provided on its April 2010 earnings call. With the addition of approximately $1 million in transaction related legal and other expenses during the 2010 fourth quarter, the Company now expects non-GAAP earnings per diluted share of $0.15 -$0.17 in the fourth quarter. On a GAAP basis, Emulex expects earnings per diluted share of $0.04 - $0.06 in the fourth quarter. GAAP estimates for the fourth quarter reflect approximately $0.11 per diluted share in expected charges arising primarily from amortization of intangibles and stock-based compensation. Based on the anticipated time of closing of the ServerEngines acquisition, the GAAP estimates for the fourth quarter do not reflect any amortization or equity compensation charges associated with the transaction.

Upon completing the acquisition, the Company expects the Pilot products will provide up to an additional $4 million per quarter in total net revenues. The Company’s outstanding share count will increase by eight million in the quarter in which the transaction closes, and if the earn out milestones are each met, an additional two million shares are expected to be issued in the Company’s fiscal year 2011, and an additional two million shares are expected to be issued in fiscal year 2012. The merger agreement provides for acceleration of these payments in certain events. Taking into account this increase in fully diluted shares and the expected timing of issuance, the transaction is expected to reduce GAAP and non-GAAP earnings per diluted share by $0.09 cents per quarter through the second half of calendar 2010, and become accretive in calendar 2011. The GAAP earnings per diluted share for the same period will be impacted by additional amortization and stock-based compensation charges related to the acquisition.

Additional details and financial information related to the acquisition will be shared during our conference call scheduled for today at 2:30 p.m. PDT (5:30 p.m. EDT). Emulex President and Chief Executive Officer Jim McCluney and Executive Vice President and Chief Financial Officer Michael Rockenbach will host the call. To participate in this conference call, please call (800) 236-9788, passcode 6042250 or you may access the call live, via the Emulex website at http://investor.emulex.com. A replay of the call will be available via a webcast at http://investor.emulex.com for 12 months. In addition, there will be an audio replay of the conference call available for 7 days after the original call. The dial-in number for the replay is (888) 203-1112, passcode 6042250.

To learn more about Emulex, please visit: http://www.emulex.com

Follow Emulex on Twitter: http://www.twitter.com/emulex

About Emulex

Emulex is the leader in converged networking solutions for the data center. Our Connectivity Continuum architecture provides intelligent networking services that transition today’s infrastructure into tomorrow’s unified network ecosystem. Emulex provides a single framework that intelligently connects every server, network and storage device within the data center. Through strategic collaboration and integrated partner solutions, Emulex provides its customers with industry leading business value, operational flexibility and strategic advantage. Emulex is listed on the New York Stock Exchange (NYSE:ELX) and has corporate headquarters in Costa Mesa, California. News releases and other information about Emulex Corporation are available at http://www.emulex.com

SiliconBlue Completes $15M Series C Preferred Stock Financing

SANTA CLARA, Calif.--(BUSINESS WIRE)--SiliconBlue® Technologies, the leader in ultra-low power, single-chip, SRAM mobileFPGA™ devices, today announced the closing of a $15M Series C preferred stock financing. The proceeds from the financing will be used to support the continued proliferation of SiliconBlue’s mobileFPGA™ products by strengthening customer support infrastructure, operations supporting the company’s strong manufacturing ramp, sales channel, and developing next-generation products. Apex Venture Partners, a Chicago-based venture firm, led the financing, with the existing group of investors including NEA, Crosslink Capital, and BlueRun Ventures all participating.

“The mobile consumer product market today parallels the market situation that originally spawned the programmable logic industry,” said Armando Pauker of Apex Venture Partners.

“The tremendous rate of innovation in these products cannot be supported by traditional semiconductor solutions. SiliconBlue’s mobileFPGA products present a great opportunity for mobile consumer product manufacturers, as well as investors.” Mr. Pauker is a General Partner at Apex Venture Partners, and has been elected to SiliconBlue’s Board of Directors.

SiliconBlue’s Series C funding comes as the company continues to achieve unprecedented milestones as a new FPGA company. All four of the company’s iCE65™ product lines are in production. The company has achieved well over 150 design wins in volume mobile applications such as Smart Phones, eReaders, and digital still cameras. “As a team, we are proud of the progress we have made towards our vision of enabling innovation in the mobile handset market. Customers are using our mobileFPGA devices to compliment mobile application processors and chipsets, taking innovation to a whole new level,” said Kapil Shankar, CEO of SiliconBlue. “We appreciate the continued support of our investors, and we welcome Armando and Apex to our company.”

About SiliconBlue

SiliconBlue Technologies is the first programmable logic start-up company in 20 years to ship products in volume production. The company offers a new class of ultra-low power, single-chip, SRAM FPGAs designed specifically for handheld consumer applications. Manufactured on TSMC’s 65nm LP (low power) CMOS process, the iCE65 mobileFPGA family meets the capacity, power, area, and price requirements for high-volume, battery-operated products such as Smart Phones, eReaders, mobile internet devices, and digital still cameras. Headquartered in Santa Clara, California, the company has a highly skilled team of programmable logic device (PLD) experts who have been instrumental in developing and patenting many of the leading programmable logic technologies in the market today. For more information, please visit our website at www.siliconbluetech.com.

About Apex Venture Partners

Apex Venture Partners is a Chicago-based venture firm focused on investments in companies with high potential for value creation in a variety of sectors including technology, software, IT infrastructure and telecommunications. Established in 1987, the firm has more than $500 million under management, and has invested in over 100 technology companies throughout the United States. Further information is available at www.apexvc.com.

Ozmo Devices Announces $10.8M in Series D Funding

PALO ALTO, Calif – June 7, 2010 – Ozmo Devices, the leading provider of low-power Wi-Fi Personal Area Network (Wi-Fi PAN) solutions, announced today that is has completed its series D funding round in the amount of $10.8 million. Atlantic Bridge Ventures led the round with participation of existing investors Granite Ventures and Intel Capital. Brian Long, partner at Atlantic Bridge, will join the Board of Directors. This significant milestone comes after the recent addition of Bill McLean as president and chief executive officer earlier this year and Ozmo Devices' recognition by Gartner as a "Cool Vendor in Semiconductors"(1).

"We have known Bill for a long time and were an investor in his previous success at GloNav," said Brian Long, Partner, Atlantic Bridge Ventures. "We believe Ozmo Devices has positioned itself uniquely in a fast-growing industry and have full confidence in its success."

"Atlantic Bridge is a welcome addition to our investment team," said Bill McLean, Chief Executive Officer, Ozmo Devices. "This financing fuels Ozmo's next growth phase as we start to ramp production with our customers. It puts Ozmo in a great position to solidify its leadership position in the low-power Wi-Fi peripherals market and take advantage of the market opportunity presented by the emerging Wi-Fi Direct standard."

(1) Gartner "Cool Vendors in Semiconductors, 2010," Jim Tully, Ganesh Ramamoorthy, Steve Ohr, Stan Bruederle, and Bryan Lewis

About Ozmo Devices
Ozmo Devices is the leading provider of low-power Wi-Fi PAN solutions. Ozmo Devices extends the functionality of Wi-Fi-enabled platforms to seamlessly communicate with peripherals. Ozmo Devices’ silicon solution delivers superior performance for low-power wireless peripherals like mice and headsets. Ozmo Devices is backed by top-tier venture capital firms and managed by semiconductor industry veterans. The company is headquartered in Palo Alto, California, and has offices in the United Kingdom. For more information about Ozmo Devices, visit
www.ozmodevices.com.

Wednesday, June 2, 2010

M/A-COM Technology Solutions and Mimix Broadband Complete Merger

LOWELL, Mass.--(BUSINESS WIRE)--M/A-COM Technology Solutions Inc. (M/A-COM Tech), a leading supplier of semiconductors, components, and subassemblies for use in RF, microwave and millimeter-wave applications, announced today the completion of a previously-announced merger transaction that adds Mimix Broadband, Inc. (Mimix) and its subsidiaries to the M/A-COM Tech family of companies. Mimix is a fabless supplier of high performance GaAs semiconductors from DC to 50 GHz for RF, microwave and millimeter-wave applications. Financial terms of the merger were not disclosed.

The management teams of M/A-COM Tech and Mimix will be combined to maximize growth opportunities created by the merger. Joseph Thomas, CEO of M/A-COM Tech prior to the merger, will continue as CEO of the combined organization. Rick Montgomery, Mimix Broadband’s CEO, will maintain a strategic role with M/A-COM Tech, pursing new technology and business opportunities.

“This advantageous merger with Mimix provides a highly complementary combination of technology, instantly creating the most compelling offering of Silicon- and GaAs-based high performance products,” stated Thomas. “Together we can offer our global customers full block diagram solutions to address their most demanding system needs.”

Montgomery added, “The combination of these two superior organizations creates an exponentially greater company and establishes a solid foundation for continued growth by offering a best-in-class set of solutions to our customers.”

ABOUT M/A-COM TECH

M/A-COM Tech is a leading supplier of semiconductors, active and passive components, and subassemblies for use in radio frequency (RF), microwave and millimeter wave applications. The company provides innovative design solutions and products including:

  • GaAs, InGaAs, InP, SiGe, and Si IC products
  • Unique MMIC processes: HMIC™ and GMIC™
  • In-house and outsourced design, fabrication, assembly and screening capabilities
  • Multiple facilities for improved flexibility and local content manufacturing
  • Design expertise covering the spectrum from RF through millimeter-wave frequencies
  • One of the broadest selections of standard and custom products in the industry
M/A-COM Tech is headquartered in Lowell, Massachusetts, with offices spanning North America, Europe, Asia and Australia. M/A-COM Tech builds on 60 years of experience and ISO 9001, AS 9100 and QS-9000 certifications to design and manufacture innovative products addressing aerospace and defense, CATV and broadcast, consumer electronics, industrial and scientific, infrastructure, and public safety applications.