Legend Silicon Secures $40 Million Private Equity Investment
Intel Capital, Intel Corporation's venture capital organization, recently announced it has led a Series D private equity investment round in Legend Silicon Corp. up to $40 Million, a fabless semiconductor company that manufactures the core IC for digital broadcasting and broadband transmission.
The proceeds will be used by Legend Silicon to develop terrestrial DTV demodulation IC products in full compliance of the newly approved China Digital Television Terrestrial Broadcasting standard (GB20600-2006) announced on August 18, 2006. The new standard is also commonly referred to as DMB-TH (Digital Multimedia/TV Broadcasting - Terrestrial/Handheld) of which Legend Silicon is one of the key contributors working closely with Tsinghua University, Beijing.
“Legend Silicon is making important contributions to the DTV industry in China,” said Arvind Sodhani, president of Intel Capital. “We foresee vast potential in this market segment and aim to invest in companies providing crucial technologies that will fuel future growth for China and the world. We believe this investment will help foster further innovation for China's digital entertainment industry.”
“Legend Silicon has nurtured and participated in the development of the core technology to enable the Chinese market to move from analog to digital television,” said Dr. Lin Yang, Chairman of the Board and CTO, Legend Silicon Corporation “With this home grown technology, people all over China will be able to experience High Definition Terrestrial Television at minimal cost. The technology will prepare China for full digital TV transmission of the 2008 Olympics Games in Beijing.”
Intel Capital, Intel's venture capital organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, home, mobility, health, consumer Internet and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$6 billion in nearly 1,000 companies in more than 40 countries. In that time, about 180 portfolio companies have been acquired by other companies and another 155 have gone public on various exchanges around the world. In 2006, Intel Capital invested about US$1.07 billion in 163 deals with approximately 60 percent of funds (excluding Clearwire) invested outside the United States. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com.
Legend Silicon Corporation is a fabless semiconductor company that develops technology and Application-Specific Standard Products (ASSPs) for digital broadcasting and broadband transmission. Legend Silicon has operations in Fremont, California, Shanghai and Beijing, China, where it also maintains a joint DTV Research Center with Tsinghua University in Beijing.
For more information, please visit www.legendsilicon.com