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.
German company wins bid to crash cars in China
September 02, 2014
Numerous developments in the area of vehicle safety are significantly influenced as a result of current NCAP or NHTSA regulations ...
European semiconductors sales up 14.9% this year
EE Times' annual salary & opinion survey report
Toshiba announces image sensor strategy
DelfMEMS promotes CFO to CEO
Sensata to pay $1-bn for tire pressure sensor leader
September 01, 2014
Sensata Technologies Holding NV (Almelo, Netherlands) has announced it has reached an agreement to acquire the Schrader group ...
ADCs for high dynamic range – successive-approximation or sigma-delta?
Microchip in Pursuit of CSR
Samsung Funds III-V FinFETs in US Lab
- Power Modules: The New Super Power
- Flexible Performance for Network Security Appliances
- Digital Power Management Reduces Energy Costs While Improving System Performance
- Using RF Recording Techniques to Resolve Interference Problems
InterviewA question of Europe
Sir Peter Bonfield sits on the board and has advisory roles in many international companies and universities. With more than 45 years of experience in electronics, computers and communications, here he ...
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.