Tuesday, May 29, 2007

SiGe Semiconductor Raises $20 Million in Funding

SiGe Semiconductor, which develops RF front-end solutions for next-generation wireless systems, raised US $20 million in an expansion round of financing. Samsung Ventures, the US-based venture capital investment arm for Samsung Venture Investment Corporation (SVIC), joins as a strategic investor participating in this round. Additional investors include 3i Venture Capital, Prism VentureWorks, TD Capital Ventures, VenGrowth Private Equity Partners, RWI Ventures and GrowthWorks.

SiGe Semiconductor is targeting an expansion in of product lines supporting the Wi-Fi, WiMAX and GPS markets. Its portfolio includes Wi-Fi power amplifiers and front-end modules, GPS receivers and WiMAX transceivers. The company said its revenues increased more than 50 percent in 2006 to $49.4 million from $31.8 million in 2005. The company has shipped more than 160 million integrated circuits to customers and partners including Arris Interactive, Askey, Broadcom, Centrality, CSR, DeLorme, Furuno, Garmin, Gemtek, Mitsumi, Nintendo, Samsung, Tecom, Tyco, and USI.

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