ClearSpeed set to raise £20 million in share placing
April 02, 2007 //
Parallel coprocessors and accelerator board developer ClearSpeed Technology (Bristol, England) is planning to raise £20 million($39 million) in a share placing on the AIM market in London following the announcement of full year results that saw pre-tax losses for the year ended December 2006 widen to £11 million ($21.5 million) from £7 million ($13.7 million) the previous year.
LONDON Parallel coprocessors and accelerator board developer ClearSpeed Technology (Bristol, England) is planning to raise £20 million($39 million) in a share placing on the AIM market in London following the announcement of full year results that saw pre-tax losses for the year ended December 2006 widen to £11 million ($21.5 million) from £7 million ($13.7 million) the previous year.
However turnover tripled during the year to £1.9 million($3.7 million).
Tom Beese, ClearSpeed's CEO, told EE Times Europe : "2006 was always going to be the year for the strongest round of costs for us and the results reflect that. But the company is on track to achieve its objectives and at least a third of the funds being raised will be used for development of the next range of chips that will continue to target accelerated computing applications."
Beese said he felt it important to have a strong balance sheet. The company ended the last financial year with cash of £11.75 million.
The money is also earmarked to increase sales and marketing efforts into the finance and banking sectors, a strategy outlined by Beese late last year. He told EE Times Europe it was also important to focus on tools and applications developments.
The increased revenue was partly due to the delivery of the company's first major order to Sun Microsystems and the Tokyo Institute of Technology for 360 Advance accelerator boards.
Operating expenses increased 69 percent to £12.85 million, within which investment in research, design and development jumped by a third to £6.26 million while marketing and administration costs rose 126 percent to £6.58 million.
Beese said the upgrade of the company's Advance range of boards to PCI Express compatibility is on track, and ClearSpeed is about to launch a range of PCI Express boards.
16nm FinFETs boost ARM's 64-bit big.LITTLE
September 30, 2014
TSMC and ARM today have announced the results from a key FinFET silicon validation of the ARM big.LITTLE implementation, ...
X-ray imaging reveals path to extending battery lifetimes
Electron innovation prolongs power in mobile devices
What Is Digital Power System Management?
Qualcomm increases share of smartphone processor market
Aggregating disparate data protocols from IoT
September 29, 2014
News stories about the Internet of Things tend to concentrate on consumer products like wearable tech and smart home appliances. ...
Fairchild reinvents itself
Wearable equipment market to double in 2014
ST claims 5 billion MEMS sensors shipped
- Solutions for Millimeter Wave Wireless Backhaul
- Enter Linduino
- A Novel Approach to Industrial Rectifier Systems
- Putting FPGAs to Work in Software Radio Systems Handbook
InterviewCEO interview: AMS' Laney on driving a sensor-driven business
Kirk Laney, CEO of Austrian mixed-signal chip and sensor company AMS, wants to leverage the opportunity that technology affords to create new markets for sensors and sensor interfaces.
Filter WizardCheck out the Filter Wizard Series of articles by Filter Guru Kendall Castor-Perry which provide invaluable practical Analog Design guidelines.
Linear video channel
READER OFFERRead more
This month, Trinamic Motion Control is offering you to win one of four TMCM-1043 development kits for its highly integrated, NEMA 17-compatible TMCM-1043 stepDancer stepper motor module.
Offering designers an easy-to-use PC-based GUI that allows one-click modification of motor drive current, micro-stepping and other key parameters, the intuitive kits are custom designed and developed for...MORE INFO AND LAST MONTH' WINNERS...
December 15, 2011 | Texas instruments | 222901974
Unique Ser/Des technology supports encrypted video and audio content with full duplex bi-directional control channel over a single wire interface.