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Startups to merge to form new analog chip venture

July 18, 2012 // Dylan McGrath

Startups to merge to form new analog chip venture

A pair of privately held chip startups that have taken more than $80 million in venture funding combined to date announced they would merge with a holding company to create Spectra7 Microsystems, a high-performance analog chip company for mobile infrastructure and consumer products.


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Spectra7 is expected to raise more than $10 million in equity, including investments from venture capital firms such as Celtic House Ventures Partners, EdgeStone Capital Partners and Ventures West, according to a statement issued by Redmere Technology Ltd., and Fresco Microchip Inc., the two chip startups involved. All three VC firms mentioned are existing investors in either Redmere, Fresco Micochip or both.

Redmere (Cork, Ireland) is a provider of active cable semiconductors. Fresco Microchip (Toronto) is a provider of RF, analog and digital semiconductors for consumer devices, including TVs.

The companies said Spectra7 is being formed to address the demand for more bandwidth and lower costs in mobile and internet infrastructure equipment, including handsets, tablets, base stations and microwave backhaul systems. Using technology developed by RedMere and Fresco Microchip, Spectra7 will be positioned to provide new system level analog components that will deliver unprecedented bandwidth over fiber and copper links and address the wireless bandwidth bottlenecks in the mobile internet, the companies said. The combination of both companies will result in a capital investment to date of over $80 million, a significant portfolio of patents and development centers in four countries, according to the companies.
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