Tuesday, April 24, 2012

Amalfi Semiconductor Closes $20M Funding

LOS GATOS, CA--(Marketwire - Apr 24, 2012) - Amalfi® Semiconductor, an emerging leader in cost effective, high performance power amplifier solutions for cellular handsets, today announced that it has raised an additional $20 million from existing investors Battery Ventures, DCM and Globespan Capital Partners. Amalfi plans to use the funds to expand its business operations and accelerate new product development programs of its next-generation CMOS power amplifier technologies.

"Amalfi is experiencing tremendous growth with worldwide Tier 1 and China ODM handset customers, in addition to having a strong CMOS integration roadmap for the 3G market. This commitment from our existing investors demonstrates the confidence they have in our ability to deliver disruptive technology," stated Mark Foley, CEO and President at Amalfi. "We've had a tremendous year and a dramatic ramp up in the adoption of our products. As we grow rapidly, this additional funding accelerates our next phase of product development, while allowing us to guarantee exceptional customer service."

With over 75 million transmit modules shipped, Amalfi is the industry's leading CMOS power amplifier company. Amalfi's current technology is primarily targeted for use in entry-level and ultra-low cost 2G GSM/GPRS cellular handsets in emerging markets. The company introduced its first family of CMOS-based 2G GSM/GPRS transmit module (TxM) integrated circuits (IC) in 2009. In August 2011, Amalfi launched its second-generation AdaptiveRF™ architecture, designed to deliver industry-leading performance at significantly reduced costs compared to traditional GaAs modules.

"We have clearly been able to demonstrate the benefits of our CMOS technology at the 2G level," added Foley. "We will further drive these price and performance benefits for feature and entry-level smartphones while introducing new advanced products that apply these same CMOS integration benefits to 3G and LTE mobile phones and data terminals."

About Amalfi Semiconductor
Amalfi Semiconductor is a fabless semiconductor company specializing in cost effective, high performance CMOS RF and mixed-signal ICs. The Company's proprietary CMOS based architecture, AdaptiveRF™, has proven to increase the battery life or talk time of cellular handsets while decreasing the size and cost of front-end cellular hand set designs. The company has strong financial backing, with funding from industry leading venture capital companies -- Battery Ventures, DCM, Globespan Capital Partners, and strategic investors. Amalfi Semiconductor can be contacted at their corporate headquarters in Los Gatos, Calif. at +1-408-399-5360 or atwww.amalfi.com.

About Battery Ventures
Since 1983, Battery has been investing in technology and innovation worldwide. The firm partners with entrepreneurs and management teams across technology sectors, geographies and stages of a company's life, from seed, start-up and expansion financing, to growth equity and buyouts. From offices in Boston, Silicon Valley and Israel, Battery manages nearly $4B in committed capital, including its current fund of $750M. For more information, visit www.battery.com.

About DCM
DCM is an early stage venture capital firm that has been helping entrepreneurs build world-class technology companies since 1996. The firm's partners manage funds totaling over US$2 billion, and have made investments in more than 150 technology companies across the United States and Asia. With offices in Silicon Valley, Beijing and Tokyo, DCM provides hands-on operational guidance and a vast network of business and financial resources to its portfolio of companies globally. For more information, visit www.dcm.com.

About Globespan
Globespan Capital Partners is a global venture capital firm with over $1 Billion under management. Globespan primarily invests in go-to-market rounds of information technology, Internet and mobile communications companies. Our investment team has a proven track record of effectively working with entrepreneurs, top tier co-investors and strategic partners to help build market-leading companies. In addition, our dedicated Asian Business Development team provides unparalleled access to Asian markets offering a compelling advantage to our entrepreneurs. With offices in Boston and Palo Alto, we invest throughout the world on behalf of an international base of limited partners. For more information, visit www.globespancapital.com.

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