Samsung Invests in SiGe

SiGe Semiconductor has raised US $20 million in an expansion round of financing

May 30, 2007

1 Min Read

METHUEN, Mass. -- SiGe Semiconductor, a leading supplier of RF front-end solutions for wireless systems, today announced it has raised US $20 million in an expansion round of financing.Samsung Ventures, the US-based venture capital investment arm for Samsung Venture Investment Corporation (SVIC), joins as a strategic investor participating in this round. The capital will fund expansion of SiGe Semiconductor's product lines supporting the Wi-Fi(R), WiMAX and GPS markets.

Samsung Ventures joins returning investors 3i Venture Capital, Prism VentureWorks, TD Capital Ventures, VenGrowth Private Equity Partners, RWI Ventures and GrowthWorks. With the completion of the expansion round, SiGe Semiconductor also welcomes two new board members: Bill Byun, managing director, Samsung Ventures, and Jim McLean, partner, 3i Venture Capital. Jim McLean replaces Sean Brownlee who previously served as 3i's representative on the board.

"We are very pleased with the strategic investment by Samsung Ventures, and want to thank our returning investors for their continued support," said Sohail Khan, president and CEO, SiGe Semiconductor. "Our objective with this funding is to expand our customer base to drive an increase in our market share across key segments. Expanding our footprint in the market will drive profitable growth, and will fuel the development of industry-leading products for emerging wireless applications."

SiGe Semiconductor Inc.

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