Update: MIPS Technologies Acquires Chipidea (August 27, 2007)
LISBON, Portugal-- January 2, 2007
--Chipidea, the leading analog and mixed-signal semiconductor solutions provider, today announced that it has closed a series C funding round for a total of 5M Euros from sole investor Fundo de Capital de Risco para Investidores Qualificados ES Ventures II (ESV), a fund managed by Espirito Santo Ventures, a leading Portuguese private equity company within the BES Group.
Chipidea plans to use the proceeds of this financing to further expand its business and pursue targeted strategic acquisitions to strengthen its worldwide R&D capabilities.
Chipidea has developed the most advanced and complete analog and mixed-signal technology portfolio in the world, ranging from precision single-function blocks to full analog sub-systems for wireless and wireline communications, device-to-device connectivity, multimedia, and power management. Founded in 1997, Chipidea has demonstrated both profitability and double-digit revenue growth since its inception. The company now employs more than 260 people in offices across Europe, Asia and North America.
"Jose Franca and his colleagues have built a world class semiconductor IP business, leveraging on a scarcity of knowledgeable resources in this area all over the world, with an impressive blue chip customer base," said Joaquim Servulo Rodrigues, CEO of Espirito Santo Ventures.
Jose Franca, Chipidea's co-founder and CEO, added, "We are delighted to welcome ESV as partner to Chipidea. This investment will enable us to consolidate our leadership position in the analog and mixed-signal market."
About Espirito Santo Ventures
Espirito Santo Ventures is a venture capital firm of Espirito Santo Group, providing equity financing, management support and market expertise to promising companies with talented and ambitious entrepreneurs who have developed innovative products, services and business models (www.es-ventures.com).
Chipidea is the world's number one analog/mixed-signal merchant technology supplier targeting fast-growing market segments like wireless communications, digital media and consumer electronics. Chipidea supports blue-chip customers across the globe, has an impeccable reputation for delivering high-quality products and is known for its reliable execution. Chipidea licenses its technology to leading companies in these and other key markets, delivering everything from precision single-function blocks to full analog sub-systems. For more information: www.chipidea.com