April 17, 2006
ViXS Systems Closes $18 Million Series E Funding Round
TORONTO April 17, 2006 ViXS Systems, the leading developer of video processing and networking chipsets, today announced the completion of its Series E financing round totalling $18 million. New Enterprise Associates (NEA) led the investment round. ViXS has experienced rapid integration of its video processors into many consumer electronic and PC products from customers such as Sony, Hitachi, Funai, Nvidia and IODATA. ViXS will also be making many announcements in the second half of 2006 with top-tier OEMs in both the PC and CE markets. Funds from this round will be applied towards growing ViXS customer support infrastructure in Asia Pacific and Europe to meet the needs of its expanding customer base.
ViXS remarkable penetration into such competitive markets speaks volumes about the value their technology adds to consumer products, said Ravi Viswanathan, Partner at NEA. With the proliferation of digital video, we expect manufacturers demand for low-cost, high-quality video processing to grow exponentially in the coming years. Our investment in ViXS Systems reflects NEAs commitment to supporting pioneering companies with strong track records and clear growth potential. Were excited to be working with them.
ViXS XCode video processor increases the performance of video processing and provides consumers with a high-quality viewing experience. The companys breakthrough technology enables consumers to efficiently record high-quality video from virtually any source, then transfer this content among a variety of fixed, portable and mobile display devices or transport it over the public Internet.
Were enthusiastic that NEA shares our vision of bringing simplified video management to the consumer electronics market, said Sally Daub, president and CEO of ViXS Systems. Our rapidly expanding top-tier customer base is the result of our products proven video management capabilities. NEAs investment will allow us to expand our operations and better leverage these strong relationships as the market and our customer base continues to grow.
About New Enterprise Associates
New Enterprise Associates is a leading venture capital firm focused on helping entrepreneurs create and build major new enterprises that use technology to improve the way we live, work and play. With $6 billion under management, New Enterprise Associates experienced management team has invested in over 500 companies, of which more than 149 have gone public and more than 195 have been acquired.
About ViXS Systems Inc.
ViXS Systems has developed high performance MPEG video processors and wireless semiconductor solutions with unprecedented capabilities for processing and distribution of broadcast-quality video. These products provide manufacturers of consumer electronics, personal computers, and set-top boxes with a proven technology that operates within defined standards. ViXS components offer full support for HDTV, DVD, satellite or cable broadcasts and deliver highest quality video for consumer entertainment, personal computing applications, and multimedia gateways. Founded in January 2001, the company is headquartered in Toronto, Ontario and has filed over 100 patents to date. For further information, please visit us at www.vixs.com
For more information contact:
Phone: (416) 646-2000