Silicon Video raises $15 million in new private financing; more than $85 million committed to thin CRT display venture.CUPERTINO, Calif.--(BUSINESS WIRE)--May 18, 1995--Silicon Video Corporation, a four year old company developing a new class of flat panel display A thin display screen for computer and TV usage. The first flat panels appeared on laptop computers in the mid-1980s, and the LCD technology became the standard. Stand-alone LCD screens became available for desktop computers in the mid-1990s and exceeded sales of CRTs for the first time called a Thin CRT, today announced that it has raised over $15 million in private investment through a Series D preferred stock offering. Principal participants in the round include Hewlett-Packard, Oppenheimer Management, Farmers Insurance, Sevin-Rosen, New Enterprise Associates, West Coast Ventures, Sierra Ventures, Daiwa Business Investment, Yamaichi Finance, Nippon Enterprises Development and undisclosed individual investors. Terms and conditions for the Series D private placement were not disclosed. To date, more than $85 million in private and public funding has been committed to Silicon Video's technology development program. Silicon Video's Thin CRT displays incorporate the high quality visual characteristics of the venerable cathode ray tube See CRT. (hardware) cathode ray tube - (CRT) An electrical device for displaying images by exciting phosphor dots with a scanned electron beam. CRTs are found in computer VDUs and monitors, televisions and oscilloscopes. used in televisions and computer monitors into a 5 millimeter thin, flat panel form factor. SVC's Thin CRT combines CRT (1) (C RunTime) See runtime library. (2) (Cathode Ray Tube) A vacuum tube used as a display screen in a computer monitor or TV. The viewing end of the tube is coated with phosphors, which emit light when struck by electrons. components (i.e., high voltage aluminized CRT phosphors, electron beam focus electrode, vacuum-tube packaging) in a new flat cold cathode which emits electrons behind each CRT phosphor A rare earth material used to coat the inside face of a CRT. When struck by an electron beam, the phosphor emits a visible light for a few milliseconds. In color displays, red, green and blue phosphor dots are grouped as a cluster. See screen burn. dot. As part of today's announcement, SVC (1) (Switched Virtual Circuit) A network connection that is established at the time the transmission is required and disconnected when the session is completed. disclosed the addition of two new corporate partners to its equity investor list: Advanced Technical Materials Inc., a leading developer of thin film technologies and Science Applications International Corporation (SAIC SAIC - http://saic.com. ), an employee owned technology and systems integration company with annual revenues of approximately $2 billion and a twenty year history of broad expertise in military displays and computer systems. Silicon Video also confirmed today that it has Advanced Research Projects Agency's (ARPA ARPA - Defense Advanced Research Projects Agency ) continued support through the High Definition Systems program. This program funds research and development for SVC's innovative cathode technologies. The company is in the final engineering phase of fabricating initial prototype test devices (i.e. integrating the faceplate, support structures, and cathode sub-components into a vacuum tube assembly). These color engineering prototypes will be fabricated throughout the summer and fall and will be demonstrated publicly during the second half of 1995. CONTACT: Silicon Video Corporation Nick Sturiale, 408/864-2642 |
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