News

30 August 2006

 

SiGe raises $19.5m after doubling revenues

SiGe Semiconductor Inc of Ottawa, Canada, which supplies SiGe-based RF front-end solutions for wireless systems, has raised US$19.5m in an expansion round of financing. The fundraising round was led by TD Capital, Prism Venture Partners, VenGrowth Private Equity Partners, and 3i Technology Partners, and joined by previous investors including, Hunt Ventures, RWI Group, GrowthWorks, and Vista Ventures. Prism general partner Bill Seifert and 3i director Sean Brownlee have subsequently become SiGe board members.

The investment will fund new product development from conception to launch, as well as the growth of operations in support of an expanding global customer base, says SiGe.

"This funding will be instrumental in bringing new products to market, and expanding our portfolio to address high-growth opportunities in the cellular, GPS and WiMAX markets," said Jim Derbyshire, CEO and chairman. "We
also plan to scale operations accordingly to support the growing demand for our products."

SiGe Semiconductor says that its integrated circuits and RF front-end modules allow manufacturers of consumer electronic devices to achieve high performance, optimal battery life and small form factors. The products are
currently integrated into Bluetooth-enabled portable devices, GPS and telematics systems, IEEE 802.11a/b/g/n Wi-Fi devices, WiMAX broadband access equipment, and GSM/EDGE and GPRS cellular handsets.

SiGe's revenues have grown from $3.6m in 2003 to $31.8m in 2005. For first-half 2006, revenues were US$23m, almost double first-half 2005's US$11.9m. SiGe claims that it has a major share of the market for WLAN power amplifiers, and is quickly gaining traction in the GPS, Bluetooth, and WiMAX
segments. SiGe Semiconductor has shipped more than 100m ICs

"We are excited about the company's prospects as it moves its next generation of parts from development to market launch," said Paul Ciriello, managing director of TD Capital Technology Ventures. SiGe's financial performance "demonstrates its ability to identify and address high-growth market opportunities," adds Pat DiPietro, managing general partner, VenGrowth Private Equity Partners Inc.

Visit: http://www.sige.com