Breakthrough High Performance/Low power Chip Blasts 3G Roadblock: Heralds New Era of Global Wireless Connectivity, High Speed Data, And Rich Multi-Media Functionality.
Munich, Germany and White Plains, N.Y., - June 30th, 2003 - Siemens Venture Capital, the strategic investment arm of Siemens AG, Germany, and Sandbridge Technologies, Inc., a leading U.S. based fabless semiconductor company focused on Software-Defined-Radio (SDR) solutions for multi-standard and multi-function wireless terminals, announced Siemens Venture Capital's multi-million dollar investment in Sandbridge's series B financing. The Siemens investment brings the Sandbridge series B total to $22.5 million raised from seven investors including Atlas Venture, Bessemer Venture Partners, China Development Industrial Bank, Columbia Capital, Doughty Hanson Technology Ventures, Infineon Ventures, and Siemens Venture Capital. Collectively, the investors bring Sandbridge the significant market leverage of their broad wireless industry experience and global strategic market relationships.
Sandbridge's exceptionally cost effective, ultra-low power broadband wireless technology replaces traditional fixed function HW implementations with fully flexible SW solutions. This approach enables handset manufacturers to design smarter products and bring those products to market faster by reducing certain steps in the research and development phase.
"Sandbridge is introducing a new evolution of mobile handsets and therefore is strategically relevant to Siemens Mobile Phone Division. It is driving a paradigm shift in both engineering and business strategies," said Bjoern Christensen, president and CEO of Siemens Venture Capital.
"With its flexible baseband platform, Sandbridge is offering a visionary solution to a daunting challenge facing the entire wireless industry," added Rudolf Hamann, Investment Partner at Siemens Venture Capital, who will serve as an observing board member for Sandbridge.
According to Guenter Weinberger, President and CEO of Sandbridge Technologies, "The wireless know-how and strategic relationships of our investors combined with our skillful team is extremely valuable. Siemens Venture Capital's investment is another confirmation that we deliver what the market needs. Our revolutionary solution provides a strategic advantage to our partners."
About Sandbridge Technologies
Sandbridge Technologies, Inc. is a leading fabless semiconductor company that develops and markets software-defined radio (SDR) baseband processors for advanced wireless/mobile terminals. Sandbridge provides its customers tremendous competitive value in the global cellular marketplace through its exceptionally cost effective, ultra-low power broadband wireless technology based on its breakthrough patented SandBlaster™ architecture, exceptionally efficient, code-optimizing C Compiler and software tool suite. Sandbridge semiconductor products uniquely enable fully-C-programmable SDR multimode, multiprotocol wireless communications solutions to energize multimedia handset products.
About Siemens Venture Capital
Siemens Venture Capital (SVC) is the corporate venture organization for all Siemens' businesses worldwide and plays a key role in the Siemens global network of innovation. The goal is to identify and fund investments in emerging and innovative technologies which will enhance the core business scope of Siemens. To date, SVC has invested some 500 million in more than 70 start-up companies and 25 venture capital funds mainly in the U.S., Europe and Israel. For more information: www.siemensventurecapital.com.
Reader Contact Information
Sandbridge Technologies Inc., 1 North Lexington Avenue, 10th Floor, White Plains, NY 10601, USA, Phone: +1.914.287-8505, Fax: +1.914.287-8501 email@example.com www.sandbridgetech.com
Sandbridge Technologies Inc., SandBlaster, and the Sandbridge logo are either registered trademarks or trademarks of Sandbridge Technologies Inc. Other companies, brands, products, and service names are trademarks or registered trademarks of their respective holders