Cavendish Kinetics adds Qualcomm as investor

Company completes $10M round and adds two board members.

San Jose, California, June 8, 2011: Cavendish Kinetics announced closing a $10M financing round and the addition of Qualcomm Incorporated to the current investor group. Also participating in the round were Tallwood Venture Capital, Wellington Partners Venture Capital and several other current investors.

Cavendish Kinetics, a fabless semiconductor manufacturer, will use the funds to produce RF Tuning products based on its proprietary NanoMech™ technology. Initial products target antenna tuners and impedance matching devices in mobile devices and are expected to sample early in 2012.

Nagraj Kashyap, Vice President of Qualcomm Ventures said, “Cavendish technology provides new standards of performance for RF circuits which is critically needed for the expanding frequency bands that future mobile devices will utilize. LTE, MIMO and high speed data traffic are all driving new RF requirements, and Cavendish’s tuning products are key to meeting size, performance and cost targets.”

Cavendish CEO Dennis, Yost, said, “We are very pleased that Qualcomm decided to invest after a very thorough evaluation of our company. Qualcomm is a technology leader in mobile technologies and their investment is a testament to our technology and business direction.”

Cavendish Kinetics’ Board of Directors also expanded to include RF industry veterans, Messrs. Paul Dal Santo and Moiz Beguwala. Mr. Dal Santo has over 30 years of semiconductor experience and was most recently COO of Silicon Image. The vast majority of Mr. Dal Santo’s career was with Motorola in Chicago where he started as an engineer working on the world’s first cellular telephone. This "startup group" inside of Motorola eventually became the most profitable part of Motorola and he served as VP of Engineering in several different roles, driving architectural technology decisions and managing several cellular product lines.

Dr. Beguwala presently serves as a director on the boards of Skyworks Solutions Inc and Powerwave Technologies, Inc, and as chairman of the board at RF Nano. He retired from Conexant in 2002 and served as a consultant to the CEO until 2007. At Conexant he served as a Senior Vice President and General Manager of Wireless Communications Division from January 1999 to June 2002 and realized a three-fold increase in revenue from $160m to $450M under his leadership.

Chairman of the board of Cavendish Kinetics, Luiz Arzubi, said, “With the focus of Cavendish on mobile RF devices, our newest board members bring great depth and breadth of experience to the company. Both Paul and Moiz have been involved in the mobile RF market from its inception and will provide valuable strategic guidance to the management team.”

About Cavendish Kinetics

Cavendish Kinetics, with offices in The Netherlands and San Jose, California is a fabless RF semiconductor company that designs and manufactures tunable RF components based on its proprietary NanoMech™ process technology. Partnering with major semiconductor, module, and handset makers, Cavendish is helping to create tunable RF front ends to give RF system designers more freedom to meet the performance, size and cost challenges of global mobile networks. For more information visit www.cavendish-kinetics.com.