Product category: Communications ICs (Wireless)
News Release from: Cambridge Silicon Radio
Edited by the Electronicstalk Editorial Team on 4 October 2002
Funding round provides
money for expansion
Cambridge Silicon Radio has secured $19 million of new funding following a successful private equity placement
The round was led by LDC and Scottish Equity Partners, with participation from existing institutional investors. CSR will use the funds raised to expand market activities and further invest in the development of its single-chip Bluetooth solution and complimentary wireless communications technologies.
This article was originally published on Electronicstalk on 4 October 2002 at 8.00am (UK)
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CSR is advised by Credit Suisse First Boston's Technology Group in London.
"Following the significant progress we have made over the past 12 months and the future potential of the single-chip wireless communications market, the Board decided that this was the right time to examine further funding opportunities", said John Hodgson, Chief Executive Officer, CSR.
"I am very pleased that we are now able to announce the completion of a successful round of additional funding.
The funds raised will enable us to build on our success to date, expand our marketing efforts, and provide working capital to fund the further investment in product development and production ramp".
Hodgson continued, "The continued support received from the investment community is a positive endorsement of the potential we see for CSR in the future.
We look forward to continued success as we take full advantage of the dynamic growth market in which we operate".
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