Monday, May 17, 2004
Sirific Wireless Closes $17M Series B Financing Round TD Capital Leads, Intel Makes Strategic Investment
Funds accelerate launch of single-chip CMOS radios for EDGE & WCDMA
SANTA ROSA, CA & WATERLOO, ONTARIO — May 17, 2004 — Sirific Wireless Corporation, a fabless developer of multi-standard multi-band RF transceivers for GPRS, EDGE, WCDMA & WLAN, today announced the closing of its $17 Million Series B financing. Boston-based TD Capital Ventures led the round, while the Intel Communications Fund made an initial strategic investment. Current investors, including Agilent Technologies, Celtic House, BDC Venture Capital and GrowthWorks WV Funds, also increased their investment in Sirific during this oversubscribed round.
Sirific is currently demonstrating the world’s first single-chip CMOS quad-band EDGE RF transceiver for mobile handsets, laptops and PDAs to alpha customers. The Company’s patented Virtual LO™ technology allows Sirific’s EDGE transceiver to exhibit high levels of performance and integration in standard CMOS. The Direct Modulation transmit architecture allows for full EDGE and WLAN support now with a seamless path to WCDMA on a single chip. The first products will be released to production at the end of 2004.
“Sirific is the innovation leader for high-performance and low-cost RF CMOS transceivers for multiple WAN and WLAN standards,” said Mike Hogan, President & CEO of Sirific Wireless. “Sirific has demonstrated a core competency for developing CMOS-based RF transceivers that allow for rapid deployment in multiple RF bands and emerging protocols, delivering full reference design solutions that meet our customers’ requirements and price targets.”
“Sirific Wireless has the first and only working RF CMOS, multi-band, single-chip cellular transceiver solution that supports EDGE,” said James Goldinger, Investment Partner, TD Capital Ventures. “TD Capital made this investment because Sirific’s products are desperately needed in the fast-changing cellular marketplace in order to bring both lower costs and faster time-to-market for phone manufacturers and their customers.”
“Wireless consumer demand for convenient, high data rate services will continue to drive the evolution of mobile device transceivers and require increased radio performance and multi-mode capabilities,” said Mark Christensen, Intel Capital Vice President. “RF CMOS, multi-mode radio technology, like Sirific Wireless’, will play a key role in helping mobile device manufacturers provide products that meet the increased service demands.”
Frost & Sullivan’s Semiconductor Research Analyst, Deepa Doraiswamy, agrees that Sirific’s products and technology are well-positioned to take advantage of current market conditions. "Sirific Wireless has demonstrated its ability to develop cost-competent, power-efficient and highly integrated multi-standard, multi-band direct conversion CMOS RF transceivers for the mobile terminal market", stated Doraiswamy. "Frost & Sullivan further believes that Sirific's innovative Virtual LO™ technology has strategically positioned the company to take the lead in capitalizing on the ever-evolving demands for wireless data services for GPRS, EDGE, WCDMA and WLAN networks."
About Sirific Wireless Corporation
Sirific Wireless Corporation is a fabless RF semiconductor company that develops and markets a family of multi-standard & multi-band RF transceivers for GPRS, EDGE, WCDMA & WLAN. Virtual LO™, Sirific’s patented technology, enables unparalleled levels of performance and integration for our single-chip Direct Conversion CMOS transceivers, dramatically reducing the cost, form factor and power consumption of mobile handsets, laptops and PDAs.
Sirific is based in Santa Rosa, California and Waterloo, Ontario, Canada
About TD Capital Ventures
TD Capital Ventures invests in early and growth stage companies with significant technology assets and market opportunities that span multiple industry sectors. Specifically, TD Capital Ventures focuses on investments in enterprise software, IT infrastructure, semiconductors, and wireless and emerging technologies. TD Capital Ventures has 5 investment professionals with strong investment, technology and operating experience located in its Boston office.
TD Capital Ventures is an investment group of TD Capital. Established more than 30 years ago, TD Capital is the private equity arm of TD Bank Financial Group. TD Capital has approximately $1.9 billion of capital under management through its offices located in Canada and the United States.
For more information on TD Capital and its investment groups, go to www.tdcapital.com
About Intel Communications Fund
The $500 million Intel Communications Fund, managed by Intel Capital, was established in September 1999 and focuses on accelerating Intel voice and data communications and wireless networking initiatives. The fund targets companies developing basic communications and semiconductor components and boards, real-time operating systems, software tools and utilities, system level hardware and software, and wireless network services and channels. The Intel Communications Fund has made investments in 17 countries on five continents. For more information about the fund, visit http://www.intel.com/capital/portfolio/funds/icf.htm