$17.4M third round funding to accelerate company's technology and product development, as well as marketing and sales efforts

August 20, 2002

1 Min Read

AUSTIN, Texas -- Cicada Semiconductor Corporation, the leading developer of DSP and mixed-signal integrated circuits (ICs) that enable broadband communications within Local, Wide, and Storage Area Networks, announced today the completion of $17.4 million in third round funding, bringing the company's total private debt and equity funding to $37 million to date. Participants in the round include strategic investors and existing shareholders Sevin Rosen Funds and Perot Investments. The company will use the new funding to further accelerate its product development, expand its applications support and augment its current marketing and sales efforts.As a key silicon solutions supplier enabling the market transition to Gigabit Ethernet, Cicada is now shipping its SimpliPHY™ family of quad and single port Gigabit Ethernet transceivers in volume to customers throughout the US, Asia, and Europe. To date, SimpliPHY stands as the world's lowest power and highest noise immunity transceivers shipping in production."We are very pleased that Cicada has now established the financial backing and strong balance sheet that it needs to accomplish our goal of becoming the premier supplier of complete silicon solutions for the growing Gigabit Ethernet market," stated Nicholas van Bavel, president and CEO of Cicada Semiconductor. "This level of financial support during difficult market conditions is a strong endorsement of our technical and market position as the supplier with the best-in-class Gigabit Ethernet transceivers and T3 LIUs."Cicada has also developed and is now sampling the world's first and only multichannel DSP-based Line Interface Units (LIUs), which is used in T3, E3, and STS-1 transmission systems such as multi-access multiplexors, routers, switches, and concentrators that are used in telecom infrastructure equipment.Cicada Semiconductor Inc.

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