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Celoxica Completes $30 Million Fund Raising; Company Receives Fourth Round Investment From Advent Venture Partners, Cazenove Private Equity, Intel, Isis, Quester and Wind River
ABINGDON, England -- (BUSINESS WIRE) -- Oct. 16, 2001 -- Celoxica Holdings Plc, a supplier of products and services for the rapid design of reconfigurable hardware, today announced the completion of its fourth round of private investment. The company has raised $30 million. Investors include Advent Venture Partners, Cazenove Private Equity, Intel Capital, the Isis College Fund, Quester Venture Capital Trust and Wind River Ventures. UBS Warburg acted as sole financial adviser to Celoxica on the private placement.
Celoxica enables new silicon chip designs to be developed many times faster than traditional methods by applying high-level software development techniques to hardware design. In addition, its computer-based design suites and support tools target reconfigurable devices to bring greater efficiency and flexibility to the hardware development process.
"We are delighted to receive this level of financing and proud to have closed one of the largest rounds of private equity invested in a European software company this year1," said Jon Treanor, President & CEO, Celoxica. "Celoxica has an aggressive product roadmap to extend the capabilities of its design offerings and increase the value we offer to customers. This latest investment will support the development of those new technologies and their successful delivery into the marketplace."
Dave Cheesman, Director at Advent Venture Partners, commented: "We were attracted to Celoxica because its technology addresses fundamental changes to the way in which digital logic will be synthesised, expressed and implemented in the future. These changes are necessary to bring about shorter and lower costs to the design times for silicon devices, and allow these devices to be updated and changed during their lifetimes. We believe this is going to be a large, growing market and Celoxica is in a unique position."
"Celoxica has the potential to revolutionise the way digital electronic circuits are designed," said Tod Bensen, Chief Executive of Cazenove Private Equity. "The DK1 design suite offers significant productivity gains and a clear return on investment for systems designers. Celoxica's impressive list of industry partners also demonstrates the importance of their products across a wide range of applications."
Jeremy Milne, Director at Quester, said, "We see a paradigm shift to programmability in electronic systems and Celoxica represents a high quality investment providing software tools to enable the development of programmable systems in the digital domain. We are excited by the opportunity to be investing in Celoxica which complements other investments that Quester has in related areas."
Tom Hockaday, Director of Isis, said, "Isis is pleased that Celoxica has been successful in raising this substantial round of finance at a difficult time and we are encouraged by the continued development of the technology, originally derived from the Oxford University's Computing Laboratory."
About Advent Venture Partners
Advent Venture Partners, based in London, was founded in 1981 and is one of the longest established independent technology venture capitalists. Advent specializes in technology (software, hardware, communications, and IT services) and healthcare (biotechnology, pharmaceuticals and devices) investments in the UK and Continental Europe.
Advent Venture Partners and its associates currently have total funds under management in excess of £475 million (EUR 760 million). Since 1981, the company has funded over 150 companies in the U.K., Europe and the U.S. Advent invests between £5 million and £20 million in companies from start-up through to pre-flotation stage. For more information, visit www.adventventures.com.
About Cazenove Private Equity
Cazenove Private Equity (CPE) was established in April 2000 by Cazenove Group plc (Cazenove), a leading independent investment bank. Its first fund, the Cazenove New Europe Access Fund (CNEAF), raised £235 million from a combination of leading European institutional investors and Cazenove. CNEAF invests in unquoted companies in the UK and Europe in the technology, media, telecommunications and Internet sectors. CPE operates as a separate division of Cazenove, with the sole objective of producing superior returns for its investors, but has access to the resources of Cazenove as a whole. For more information about Cazenove Private Equity, visit www.casenov.com.
About Intel Capital
Intel Capital, Intel's strategic investment program, focuses on making equity investments and acquisitions to grow the Internet economy, including Internet infrastructure, content and services in support of Intel's strategic interests. For more information, visit www.intel.com/capital.
About Isis Innovation Ltd
Isis Innovation Ltd, Oxford University's wholly owned technology transfer company established in 1988, is a world leader in university technology transfer. Isis currently files a patent a week and spins-out a company every two months based on academic research generated within and owned by the University. The combined value of Oxford's companies has reached £2 billion, using quoted market capitalization and investor valuations for unquoted companies. The creation of these new spinout companies benefits local economic development and has created many new jobs in the region.
About Quester Venture Capital Trust
Founded in 1984, Quester is an independent venture capital company specializing in unquoted growth companies and has more than £300 million under management. The company focuses on investments in two areas -- information and communications technologies, and healthcare and life sciences.
Quester manages institutional venture capital funds on behalf of international investors, funds from academic institutions including Oxford, and Bath and Bristol Universities, four listed investment trusts, and an e-commerce fund for CGNU, the major insurance group. Both its institutional funds and its investment trusts have strong track records. Quester website: www.quester.co.uk
About Wind River Ventures
Wind River Ventures is the corporate venture capital arm of Wind River. The group invests in early-stage technology companies that are enabling the next generation of connected, smart devices. Target companies are in the areas of wireless communications, data/optical networking, semiconductors, communications software, Internet appliance devices, and other high-growth opportunities that are strategically aligned with Wind River.
About Celoxica
Celoxica provides software products, development boards, IP cores and design services that enable design engineers to rapidly develop application logic for FPGAs and programmable logic devices. Celoxica's solutions for reconfigurable electronics enable customers to improve productivity and exploit ongoing revenue opportunities through hardware upgrade programs via the Internet.
Celoxica has alliances and partnerships with Ericsson Radio Systems AB, Infineon Technologies AG, Marconi plc, Matra Bae Dynamics France, Wind River Systems Inc. and Xilinx, Inc. The company employs over 100 people and is headquartered in Abingdon, UK, with additional offices in Campbell, California, USA; Yokahama, Japan; and Singapore.
Note to Editors: Celoxica and the Celoxica logo are the trademarks of Celoxica Limited. Any other trademarks mentioned herein are the property of their respective owners.
(1) Based on figures supplied by UBS Warburg and Tornado Insider's database of European High-Tech Venture Capital Investment.
CONTACT: Celoxica Limited Will Golby, +44-0-1235-825-121 OR VitalCom Public Relations Lou Covey, 650/637-8212 X202
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