Intel Capital leads $10 Million investment in Mirics SemiconductorMonday, July 2nd, 2007
UK-based company offers chip innovation to enable global adoption of mobile content on-the-go
London, UK — Intel Capital, the global investment arm of Intel Corporation, today announced that it is the lead investor in a $10 million round of funding into Mirics Semiconductor (Mirics). Mirics is a UK-based company working to enable receiving content onto mobile devices. Intel Capital will provide Mirics with management and technical input, as well as new commercial opportunities based upon Intel’s global capabilities and relationships.
Mirics has developed a radio-frequency chip technology that enables mobile devices and PCs to receive content based on any number of technical standards currently being used globally. It also provides this capability within a much smaller chip-size and much lower energy consumption than previously available, which is vitally important for mobile devices.
“Intel Capital aims to identify technological innovations from companies such as Mirics Semiconductor to enable global markets to evolve,” said Arvind Sodhani, president of Intel Capital. “Our goal is to provide the platform to broaden the commercial opportunities for that innovation though active engagement and customer exposure.”
“Addressing the technological challenges facing mobile broadcast is one thing but there is huge global interest in this market segment, particularly in Asia Pacific countries like Japan and South Korea, and we need to be able to get our product to market,” said Simon Atkinson, CEO and founder of Mirics Semiconductor. “Working with Intel Capital means that we will be able to benefit from the introductions that Intel can provide to the broader global industry, including some of the large companies that might want to invest in our technology. In addition, we benefit from the insight we will gain into Intel’s own initiatives in the same area. This will also help to make us a much more attractive proposition for future investors.”
“With a huge increase in mobile TV-enabled mobile handsets and notebooks entering the global market over the next few years, there is an appetite to overcome the challenges facing implementation and adoption of mobile audio and video content,” said Marcos Battisti, Mobile Sector Director for Intel Capital in Europe, Middle East and Africa. “Early feedback on Mirics’ work is very positive and we believe this provides a very exciting addition to our portfolio of mobile sector investments.”
Mirics Semiconductor has developed technology enabling a reconfigurable radio frequency tuner for use in mobile devices. Mobile phone handsets, notebook computers and other mobile devices increasingly incorporate radio and TV reception into their designs. Mirics technologies offer solutions to address challenges facing the fragmented nature of global mobile standards, improve energy efficiency, and meet portability demands of mobile devices.
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