Embedded Systems Company Digital 5, Inc. Raises $11M in Series B.Business Editors PRINCETON, N.J.--(BUSINESS WIRE)--Nov. 14, 2001 Digital 5, Inc., a leading embedded systems Embedded systems Computer systems that cannot be programmed by the user because they are preprogrammed for a specific task and are buried within the equipment they serve. developer, today announced the close of $11 million in B-round financing led by the international venture capital company 3i. The round includes strategic investments from the venturing arm of Royal Philips Electronics, Texas Instruments See TI. (company) Texas Instruments - (TI) A US electronics company. A TI engineer, Jack Kilby invented the integrated circuit in 1958. Three TI employees left the company in 1982 to start Compaq. Incorporated (TI) and series A investor SpaceVest. "This has obviously been a difficult environment to raise money," said Ron Stevens Ron Stevens (born 1949) is an Albertan MLA who is currently that province's Deputy Premier and Minister of Justice and Attorney General. Ron Stevens was born in Empress, Alberta, in 1949. , D5's president and 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. . "Given those circumstances we are very pleased to have qualified and attracted such top tier investors who will add value through their sector experience and international network." This new funding brings the company's total private equity raised to more than $15 million, and will help the company grow its position as the leading embedded systems provider for consumer electronic OEMs. The funds are being used to expand operations and meet the demand for the company's line of embedded digital audio, home entertainment networking and digital speech products. "There is a fundamental shift happening in consumer electronics, where the leading OEMs are discovering the need for specialized developers of embedded systems," said Ron Yara, co-founder of S3. "Digital 5 is defining this space with embedded systems that enable OEMs to get products to market faster at a fraction of the cost." D5's 45+ engineers have pioneered the development of digital signal processor A digital signal processor (DSP) is a specialized microprocessor designed specifically for digital signal processing, generally in real-time computing. Characteristics of typical Digital Signal Processors
"We have looked at several companies in this space and Digital 5's management team, customer traction and proprietary technology set it apart," said Marko Maschek of 3i. "Because D5 provides a far greater level of device knowledge and semiconductor integration than that of a typical embedded systems developer, the company is a very attractive supplier to OEMs who need embedded systems for their next generation of digital entertainment products." D5 provides its silicon partners with the proprietary software and firmware needed to differentiate their ICs and sell to the dominant consumer electronic OEMs. For its OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and customers, D5 provides complete embedded systems, for their next generation of digital entertainment products. "As a leading embedded software and system company, D5 has demonstrated advanced expertise in digital audio and home networking technologies, areas of considerable strategic interest to Philips," said Wouter Jonk, director of Philips Corporate Venturing. Bob McKune, worldwide business manager of Internet audio CD at TI, commented: "Leveraging D5's expertise, TI can offer its customers expanded product offerings with new and innovative solutions that enable growth in this emerging market." About Digital 5, Inc. Digital 5, Inc. is a full service embedded systems company providing OEMs with the most innovative, cost-effective, and highly integrated DSP-based products for digital and networked entertainment products. Headquartered near Princeton, N.J. the company has a growing worldwide presence with operations in Hong Kong, Europe and soon in California. News and product summaries are located at www.digital5.com. About 3i 3i is a leading international venture capital company with U.S. offices in Palo Alto, Calif. and Waltham, Mass. Operating since 1945, 3i has invested worldwide over $19 billion through its 16-country, 3-continent network of 36 offices. 3i leverages this worldwide presence to add value to its portfolio companies and investment partners. Outside the USA, 3i invests broadly in private equity and venture capital. In the United States, 3i concentrates on technology investments in companies with the potential to be leaders in their markets. Visit 3i and its portfolio at http://www.3ius.com. About Philips Royal Philips Electronics of the Netherlands is one of the world's biggest electronics companies and Europe's largest, with sales of EUR EUR In currencies, this is the abbreviation for the Euro. 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. 37.9 billion in 2000. It is a global leader in color television sets, lighting, electric shavers, color picture tubes for televisions and monitors, and one-chip TV products. Its 192,000 employees in more than 60 countries are active in the areas of lighting, consumer electronics, domestic appliances, components, semiconductors, and medical systems. Philips is quoted on the NYSE NYSE See: New York Stock Exchange (symbol: PHG), London, Frankfurt, Amsterdam and other stock exchanges. News from Philips is located at www.new.philips.com. About TI Texas Instruments Incorporated is the world leader in digital signal processing See DSP. Digital Signal Processing - (DSP) Computer manipulation of analog signals (commonly sound or image) which have been converted to digital form (sampled). and analog technologies, the semiconductor engines of the Internet age. The company's businesses also include sensors and controls, and educational and productivity solutions. TI is headquartered in Dallas, Texas, and has manufacturing or sales operations in more than 25 countries. Texas Instruments is traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol TXN TXN Texas Instruments (stock symbol) TXN Transaction (databases) TXN Tunxi, China (Airport Code) TXN Tarxien (postal locality, Malta) . The company's web site is www.ti.com. About Spacevest SpaceVest, a unique equity capital organization supported by leading financial institutions, invests in space industry companies that relate to having a satellite or other assets other assets Assets of relatively small value. For financial reporting purposes, firms frequently combine small assets into a single category rather than listing each item separately. in orbit and in next generation network companies that will fulfill the demanding voice and data communication needs of the future. More information is available at www.spacevest.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion