Frontier expands investor base
Frontier Silicon has closed a $28 million investment round led by ACT Venture Capital
Frontier Silicon has closed a $28 million investment round led by ACT Venture Capital and supported by existing investors including funds advised by Apax Partners, Alta Berkeley and BlueRun Ventures (formerly Nokia Venture Partners), and new investor Quilvest. Frontier Silicon was advised by Citigroup Global Markets in this transaction.
Frontier Silicon has successfully pioneered and helped to grow the DAB digital radio market since its inception in 2002 and recorded impressive growth.
This latest funding round will enable the company to establish a leading position in the mobile digital television market, and further develop its DAB digital radio products.
Anthony Sethill, CEO and founder of Frontier Silicon, said: 'We are pleased to welcome ACT Venture Capital and Quilvest as investors'.
'This latest investment allows us to aggressively target and drive market share in the emerging mobile digital television market in the same way that we have established our chips in over 70% of DAB digital radios'.
'Our launch this month of a mobile digital television chipset has been well received by key mobile handset manufacturers'.
'This new funding will be used to expand existing and open new design centres for our future mobile digital television IC and software products'.
'We will continue to focus on technologies targeted at the digital radio and television markets, both for the home and mobile broadcast sectors'.
Kieron Branagan, General Partner at ACT Venture Capital added: 'We are very excited to be involved with Frontier Silicon at this time as the company ramps its development of digital broadcasting platforms'.
'The management team at Frontier Silicon is uniquely positioned to leverage the significant opportunities afforded by DAB and emerging mobile digital television standards such as T-DMB and DVB-H'.
Frontier Silicon was established in 2001, and is privately funded.
Key shareholders include ACT Venture Capital, Apax Partners Funds, Alta Berkeley, GLG Partners and BlueRun Ventures, as well as Digital One, operator of one of the world's largest DAB digital radio networks in the world, and Imagination Technologies, a leading supplier of semiconductor intellectual property for the multimedia and communications market.
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