SiByte Secures $40 Million in Financing From Preeminent Venture Capital and Corporate Investors; Bowman Capital Leads Funding Round.Business Editors/High-Tech Writers SANTA CLARA Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. , Calif.--(BUSINESS WIRE)--May 16, 2000 SiByte, Inc., a communication processor start-up focused on delivering very high performance, low power processor solutions, today announced that it has raised $40 million in third round financing from major venture capital and networking firms. SiByte will use the capital to accelerate delivery of its first-generation family of products targeted at the Internet infrastructure equipment market. The round of funding led by Bowman Capital, also includes investments from ATI Technologies “ATI” redirects here. For other uses, see Ati. ATI Technologies U.L.C. ATI is a major Canadian designer and supplier of graphics processing units, motherboard chipsets, and video display cards. Inc., Cisco Systems, Juniper Networks Inc. and Raza Venture Fund A. SiByte Inc. was founded in July 1998 by Dan Dobberpuhl and others from the former Digital Equipment Corp. Dobberpuhl, who was picked by Electronic Engineering Times as one of 40 forces who will shape the semiconductor industry, has been responsible for the development of the world's fastest commercial microprocessors -- Alpha(TM) -- as well as one that offers the most MIPS/watt -- StrongARM(TM). "We are very excited about the potential of SiByte technology," said John Wakerly, vice president of Engineering at Cisco Systems. "It is Cisco's belief that SiByte has the core competencies to become a world-class supplier of next-generation communication processor solutions." "Our strategy is to target huge market opportunities and back the leaders in these markets. SiByte fits perfectly within our model," said Chris DePuy, general partner at Bowman Capital. "The rapid explosion of bandwidth in the networking and communications industries continues to drive demand for high performance processor solutions. SiByte's world-class VLSI VLSI: see integrated circuit. (1) (Very Large Scale Integration) Between 100,000 and one million transistors on a chip. See SSI, MSI, LSI and ULSI. (2) (VLSI Technology, Inc., Tempe, AZ, www.semiconductors. design expertise and strong customer focus clearly positions them to exploit this huge market opportunity." SiByte entered into an agreement with MIPS Technologies (Nasdaq:MIPS (Million Instructions Per Second) The execution speed of a computer. For example, .5 MIPS is 500,000 instructions per second; 100 MIPS is a hundred million instructions per second. ) in June 1999 to license MIPS64(TM), a market-leading Instruction Set Architecture with widespread software and tool support. SiByte is using the MIPS(R) architecture as the platform for delivering highly scalable communication processor solutions. "SiByte is well positioned to become a leader in delivering the highest performance embedded processors for the networking and communications markets," said John Bourgoin, chairman 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. of MIPS Technologies, Inc. "SiByte is taking the performance advantages of the MIPS architecture to the next level." Also investing in this round is Raza Venture Fund; A. Atiq Raza, the managing general partner of Raza Venture Fund A, is the former president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Advanced Micro Devices (AMD (Advanced Micro Devices, Inc., Sunnyvale, CA, www.amd.com) A major manufacturer of semiconductor devices including x86-compatible CPUs, embedded processors, flash memories, programmable logic devices and networking chips. ). Mr. Raza is also a member of SiByte's Board of Directors. "This funding round is significant to us not only from a sheer financial standpoint, but also because it represents continued backing from top venture and communications investors," said Dan Dobberpuhl, president and CEO of SiByte. "The quality of all of our funding partners validates our leading technology, strong market strategy and the overall growth potential of the communication processor markets we serve." SiByte will be presenting details of its first high performance, low power processor core at the Embedded Processor Forum on June 13, 2000. About SiByte, Inc. SiByte, Inc. is a privately held fabless semiconductor company A fabless semiconductor company specializes in the design and sale of hardware devices implemented on semiconductor chips. It achieves an advantage by outsourcing the fabrication of the devices to a specialized semiconductor manufacturer called a semiconductor foundry or "fab. focused on the Internet infrastructure equipment market. Based in Santa Clara, SiByte can be reached at 408/845-6600 or http://www.sibyte.com. About Bowman Capital Bowman Capital, a premier Silicon Valley investment firm, specializes in both public and private technology growth companies. The firm currently manages more than $5 billion in assets. Bowman Capital's investment philosophy is based on intensive, fundamental research on companies in the semiconductor, enterprise software, communications, and networking industries. Bowman Capital's private equity portfolio consists of more than 47 companies, including Arrowpoint Communications (ARPT ARPT Airport ARPT Ateneo Rifle Pistol Team ARPT Adaptive Research Planning Teams ARPT Adenine Phosphoribosyltransferase ARPT Access Region Prediction Table ), Asera, Broadbase Software (BBSW BBSW Bank Bill Swap Reference Rate (Australian financial market) ), Ventro Corp (VNTR VNTR Variable Number of Tandem Repeat(s) ) and Sycamore Networks (SCMR SCMR Supply Chain Management Review SCMR Society for Cardiovascular Magnetic Resonance SCMR Software Configuration Management Record SCMR Symmetrical Compact Microstrip Resonator SCMR Service Control Manager Remote ). Bowman Capital was founded in 1995 and is based in San Mateo, Calif. For more information visit www.bowmancapital.com. Media Contact: Celia Webb, 415/356 1011. Note to Editors: SiByte is a registered trademark of SiByte, Inc. MIPS and MIPS64, are registered trademarks of MIPS Technologies, Inc. All other trademarks are the property of their respective companies. |
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