WINSTOM-SALEM -- June 7, 2011 -- Triad Semiconductor Inc. (“Triad”), the industry’s leading supplier of via-configurable mixed-signal ASICs, today announced that it has secured $6M in equity financing from Development 72, LLC. The funding will be used for working capital and software and hardware development.
Triad has introduced a broad range of advanced mixed-signal platforms to address a variety of end markets and has significant design win momentum with many recent design-ins at top-tier customers. Later in 2011 and early 2012, Triad anticipates a steep increase in the need for working capital as several new projects enter the production phase. Additionally, Triad has begun creating innovative software tools that will enable customers to develop their designs on Triad’s mixed-signal platforms with minimal support.
About Triad Semiconductor, Inc.
Triad Semiconductor, Inc., a privately held fabless semiconductor company with headquarters in Winston-Salem, North Carolina, develops, prototypes and produces mixed-signal ASICs. The company’s groundbreaking via-configurable array (VCA) technology delivers ASICs with silicon-proven analog and digital functions more quickly and at lower cost than traditional full-custom approaches. Triad’s single-mask, via-only routing cuts engineering effort and fabrication time, resulting in fast-turn prototypes and allowing design changes to be made at minimal cost.
About Development 72, LLC
Development 72, LLC is a private equity holding company focused on acquiring high potential companies in the Healthcare, Information Technology, and Fast-Moving Consumer Staples industries. Development 72′s goal is to provide value-added investments and partner with existing management to realize long term results. For more information, please visit www.triadsemi.com or call (336) 774-2150