Atsana Secures U.S. $10 Million in Equity Financing.Business Editors OTTAWA, Ontario--(BUSINESS WIRE)--Jan. 14, 2004 Siemens Mobile Siemens cellular telephones were mobile phones, produced by Siemens AG. In 2005 the Taiwanese company BenQ acquired the financially bleeding mobile phone subsidiary from Siemens and gained the exclusive right to use Siemens trademark for 5 years. Acceleration, GrowthWorks, Covington, Greenstone green·stone n. Any of various altered basic igneous rocks colored green by chlorite, hornblende, or epidote. greenstone Noun NZ a type of green jade used for Maori carvings and ornaments attracted to the Company's leadership and growth potential in the wireless multimedia market Atsana Semiconductor Corp., a leader in the development of power-efficient, programmable multimedia processors for mobile devices, today announced that it has raised $10 million USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. in equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. . The new round includes investments from Siemens Mobile Acceleration (Munich), GrowthWorks WV Funds (Toronto), Covington Capital Corporation (Toronto), Greenstone Venture Partners (Vancouver) and a number of the Company's original investors. "Analysts expect over 170 million camera-enabled phones to be sold worldwide by 2006," said Alex Leupp, president & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Atsana. "This funding, and the combined experience of this strong investor group, put us in an excellent position to capture a significant share of this fast growing market. Today's announcement is another vote of confidence for Atsana's technology and its capabilities." Atsana's media processors enable mobile phones, PDAs and network cameras, to deliver multimedia applications such as multimedia messaging, DSC (1) (Digital Signal Controller) A microcontroller and DSP combined on the same chip. It adds the interrupt-driven capabilities normally associated with a microcontroller to a DSP, which typically functions as a continuous process. See microcontroller and DSP. and camcorder functionality, video conferencing See videoconferencing. (communications) video conferencing - A discussion between two or more groups of people who are in different places but can see and hear each other using electronic communications. , video streaming See streaming video and video stream. , 2D/3D gaming and other media-rich content without sacrificing battery life or performance. Atsana will use the investment to expand marketing, sales, and business development activities, as well as to further enhance its product offering with advanced solutions for the wireless multimedia market. "Multimedia applications are one of the major drivers for growth in the mobile phone segment, and we believe that Atsana offers highly competitive and programmable solutions that are critical for meeting the market's current and future needs," said Dr. Dietrich Ulmer, CEO and president of Siemens Mobile Acceleration. "Our team is excited to be working with Alex and his team to accelerate Atsana's growth." "We invest in companies that exhibit a combination of strong entrepreneurial management, innovative products, and rapidly expanding markets," said Les Lyall, senior vice president of GrowthWorks. "Atsana's early leadership in a high-growth market made the Company an attractive and logical investment choice. We are excited about the Company's growing list of customers and prospects for the future." Also participating in the round are some of Atsana's original investors: Stata Venture Partners (Boston), BDC (Backup Domain Controller) In a Windows NT server, a copy of the Primary Domain Controller (PDC). The BDC is periodically synchronized with the PDC. See PDC. BDC - Backup Domain Controller Venture Capital (Ottawa), Primaxis Technology Ventures (Toronto), and Entrust Capital (New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of ). About Siemens Mobile Acceleration Siemens Mobile Acceleration is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of the Siemens Information and Communication Mobile Group of Siemens AG Siemens AG German electrical-equipment manufacturer. The first Siemens company, Siemens & Halske, was founded in Berlin in 1847 to build telegraph installations. . Siemens Mobile Acceleration fosters early stage start-ups that focus on wireless applications and technologies for mobile communication by providing funding and strategic counsel. Headquartered in Munich, Germany, Siemens Mobile Acceleration seeks investment opportunities in Europe, Asia and North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . For more information, visit www.siemensmobileacceleration.com. About GrowthWorks GrowthWorks is a recognized leader in venture capital fund management with proven experience in the raising, investing and managing of capital. GrowthWorks (TM) managed funds, including the Working Opportunity Fund and GrowthWorks WV Funds, have a combined $750 million in assets. GrowthWorks has a team of skilled and knowledgeable investment professionals with a combined 200 years of experience. The Investment team has a proven track record of identifying, structuring and making investments in emerging sectors. GrowthWorks is a registered trademark of GrowthWorks Capital Ltd. For more information, visit www.growthworks.ca. About Covington Capital Corporation Covington Capital is a leading venture capital investment firm led by veteran venture capitalists Grant Brown and Chip Vallis. The company's highly regarded eleven member investment team has over 150 years of combined experience and focuses on growth and maximization of shareholder value. Covington Capital currently manages Covington Fund I, Covington Fund II, Triax Growth Fund and New Millennium Venture Fund, which have combined assets of approximately $465 million. For more information, visit www.covingtoncap.com. About Greenstone Venture Partners Greenstone Venture Partners is a venture capital fund targeting promising technology companies in Canada and the Western United States Noun 1. western United States - the region of the United States lying to the west of the Mississippi River West Santa Fe Trail - a trail that extends from Missouri to New Mexico; an important route for settlers moving west in the 19th century . Greenstone actively looks to combine the industry and investment experience of its team with the contacts and connections of its extended network in the technology industry. For more information, visit www.greenstonevc.com. About Atsana Semiconductor Atsana Semiconductor Corp. is a leader in the development of fully programmable, low-power consumption multimedia processors for wireless devices such as handsets, personal digital assistants (PDAs), and network cameras. The semiconductor company's array processing technology enables the creation of multimedia wireless devices that consume two to three times less power than solutions offered today. In addition, Atsana's processor enables better quality video encoding, supports higher resolution, and is easily scalable and programmable to support a myriad of multimedia applications and standards. Atsana is headquartered in Ottawa, Canada and has operations in Silicon Valley, California. For more information, visit www.atsana.com |
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