Funding round for semiconductor company led by Vertex Management Israel

January 10, 2001

1 Min Read

OTTAWA -- Solidum Systems Corp., a fabless semiconductor company and leader in wirespeed packet processing technology, today announced that it has secured US$16.5 million in financing. The investment was led by Vertex Management Israel and included strategic investment from Intel Capital. Nomura International also participated in the round as a new investor together with existing investors Business Development Bank of Canada, Formula Growth Fund, Lawrence & Co. and Skypoint Capital. Solidum will use this investment to expand its packet classification product family, grow the engineering and operations team and as working capital to establish volume revenue streams from key customers.

"We are pleased with this investment, which allows us to expand all areas of our development team with emphasis on ASIC, FPGA, software and applications engineers," said Richard White, President and CEO of Solidum. "We will also build on our operations force as we grow our network of strategic partners and lead customers."

http://www.solidum.com

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