Monday, November 29, 2010
Ra’anana, Israel – November 15, 2010 – Celeno Communications, , a leading provider of semiconductors for multimedia Wi-Fi home networking applications, today announced it has closed a $12 million funding round. The latest round includes new strategic investor Liberty Global, Inc. (“Liberty Global”) (NASDAQ: LBTYA, LBTYB, LBTYK), the leading international cable operator. In September, Liberty Global chose Celeno’s Carrier-grade Wi-Fi technology to power its multimedia home gateway. Previous investors; Cisco, Greylock Partners, Miven Venture Partners, and Pitango Venture Capital, also participated in the round.
“We invested in Celeno because their carrier-grade Wi-Fi technology is a cornerstone for delivering video throughout the home and it will be a key component in our multimedia home gateways,” said Bruce Dines, VP of Technology Investing for Liberty Global Ventures. “We were impressed with Celeno’s technology and market leadership and believe that Celeno is well positioned to address the growing needs of the cable industry for high-quality, reliable Wi-Fi solutions.”
“Celeno’s industry-leading Wi-Fi technology is powering dozens of service providers’ home networks world-wide,” said Gilad Rozen, Celeno CEO. “This funding will enable us to expand our sales and marketing activities as we grow our customer base globally, and as we continue to develop our technology leadership in the market.”
Celeno’s Wi-Fi chipsets, powered by the OptimizAIR™ technology suite, improves 802.11n Wi-Fi to deliver robust HD video with whole-home coverage. It achieves up to 10 times the range and throughput compared to legacy 802.11n solutions while maintaining a robust signal with effectively no packet loss. Celeno’s solution is client agnostic and delivers HD performance to any third-party Wi-Fi client devices. Celeno is helping to revolutionize home networks and powers them to distribute HD video content to any screen in the home ─ wirelessly: set top boxes, iPADs, wireless TV’s, digital video recorders, media streamers, laptops, and other devices.
Celeno is a leading provider of high-performance Wi-Fi chips for HD multimedia and entertainment home networking applications. Powered by Celeno's system-on-chip (SoC) and its OptimizAIR™ technology, home gateways, multi-room DVRs and media servers can distribute multiple and simultaneous HD video streams to standard set-top boxes, PCs, television sets and other Wi-Fi-enabled consumer devices. Founded in 2005, the company has offices and representatives in EMEA, the U.S. and Asia-Pacific and is backed by blue chip investors including Cisco, Greylock Partners, Liberty Global, Miven Venture Partners and Pitango Venture Capital. www.celeno.com.
Friday, November 19, 2010
Monday, November 15, 2010
HAUPPAUGE, N.Y.--(BUSINESS WIRE)--SMSC (NASDAQ: SMSC), a leading semiconductor company creating valued connectivity ecosystems, today announced that it has acquired Symwave, Inc. (Symwave), a global fabless semiconductor company supplying high-performance analog/mixed-signal connectivity solutions utilizing proprietary technology, IP and silicon design capabilities. Symwave’s suite of SuperSpeed USB 3.0 compliant products and core technology deliver up to 10 times the speed of USB 2.0 devices and target external storage, cellular phones, media players, camcorders, digital cameras and other applications requiring high-speed data transfer capabilities. End products based on Symwave’s storage controller were the industry’s first to achieve the USB-IF’s USB 3.0 certification in December 2009.
“As a market leader for USB solutions, SMSC remains at the forefront of technology evolution that enhances our strong portfolio to better serve our customers and create new growth opportunities for our company,” said Christine King, President & Chief Executive Officer of SMSC. “This led to our initial investment in Symwave in 2009, whose team of engineers has since delivered the industry’s lowest power, highest performing storage products for the SuperSpeed USB market. With USB 3.0 now ready for mass deployment, SMSC is strengthening its market position through the addition of best-in-class USB 3.0 expertise to take advantage of this technological shift at the optimal time. We expect this IP will be broadly used throughout SMSC’s connectivity product portfolio.”
“SMSC has been a strong supporter of Symwave during some of the most challenging financial times in the history of our industry, and their backing enabled us to complete the product development and ramp our customers to production successfully,” said Yossi Cohen, President & Chief Executive Officer of Symwave. “We are pleased to see a successful outcome for our employees and shareholders, our customers, and our suppliers. We envisioned the emergence of USB 3.0 over 2.5 years ago and are proud of having delivered on our vision with multiple successful products.”
Symwave has developed a host of standards-based physical layer (PHY), low power analog front end (AFE) cores, integrated circuits (ICs) and semiconductor system solutions. These solutions feature patented technical innovations that enable multi-gigabit per second data transfer rates with extremely low power and excellent electrical performance. In addition, Symwave provides software, reference designs, and a complete development environment for USB storage applications.
Symwave products have already been qualified by most of the major storage OEM companies worldwide and are shipping in excess of a million units per month. This is expected to contribute to SMSC’s USB revenue stream and accelerate SMSC’s entry into the USB 3.0 market.
SMSC had previously made a $5.2 million equity investment in Symwave, resulting in a total equity stake of 14 percent, and recently provided $3.1 million in bridge financing to Symwave. Under terms of the agreement, SMSC also agreed to make cash payments to Symwave shareholders as part of an earnout provision upon achievement of certain financial goals during calendar year 2011. Headquartered in Laguna Niguel, CA, with design centers in San Diego, CA and Shenzhen, China, Symwave has approximately 90 employees, of which over 60 are in Asia. The acquisition closed on November 12, 2010.