PASADENA, Calif.--(BUSINESS WIRE)--March 11, 2002-Phasebridge Inc., a developer of chip-scale integrated modules for 10 GB and 40 GB fiber-optic systems, announced that it closed its Series A investment round in September with funding from Clearstone Venture Partners, Intel Capital, and TriQuint Semiconductor.

This investment provides Phasebridge with resources to further develop and deploy its high-speed integrated modules, add staff, and help bring its first generation product to market.

Phasebridge has operated in stealth mode since it was founded in June of 2000. Dr. Ronald Logan, the company's founder, CEO and chairman, and various individual investors funded Phasebridge prior to the Series A round.

"We're very pleased to receive this financing from Clearstone, Intel Capital, and TriQuint. The combination of venture and corporate investors will help us secure relationships with large optical networking equipment makers and find sources of supply of critical chips used in our integrated module products," said Logan.

As part of the financing, William Quigley of Clearstone, Donald Mohn of TriQuint, and Dr. William Bridges of Caltech, joined Dr. Nathan Woodard and Dr. Ron Logan on the Phasebridge board of directors. Guy Anthony of Intel also joined as a board observer.

About Phasebridge
Phasebridge Inc. designs and develops cost-effective chip-scale integrated solutions for long-reach metro and transport fiber-optic systems for major optical networking equipment makers worldwide. Phasebridge is a privately-held company with investment from Clearstone Venture Partners, Intel, and TriQuint Semiconductor. Phasebridge is headquartered at 859 S. Raymond Ave., Pasadena, CA 91105. For more information, visit www.Phasebridge.com.

About Clearstone Venture Partners
Clearstone Venture Partners is a technology-focused venture capital firm with nearly half a billion dollars under management. With offices in Menlo Park and Santa Monica, Calif., Clearstone invests in early-stage companies in the areas of software and communications. The firm's investors include investment entities of CalPERS, Goldman Sachs, HarbourVest, Horsley Bridge, JP Morgan, Merrill Lynch, MIT, and The State of Michigan. Clearstone has a history of leadership in financing and building high-growth technology start-ups, having backed leading companies including MP3.com, Neomar, Overture, PayPal, Phasebridge, SummitLogic, and Yellowshirt. For more information, visit www.clearstone.com.

About Intel Capital
Intel Capital, Intel's strategic investment program, focuses on making equity investments and acquisitions to grow the Internet economy in support of Intel's strategic interests. Intel Capital invests in hardware, software and services companies in several market segments, including computing, networking and wireless communications. For more information, visit www.intel.com/capital.

About TriQuint
TriQuint Semiconductor, Inc. (Nasdaq:TQNT) is a leading supplier of high performance components for communications applications. The company strives for diversity in its markets, applications, products, technology and customer base. Markets include wireless communications, telecommunications, data communications, and aerospace with a specific focus on RF, analog and mixed signal applications. TriQuint provides customers with standard and custom product solutions as well as foundry services. Products are based on advanced process technologies including gallium arsenide, indium phosphide, silicon germanium, and SAW filters. TriQuint customers include major communications companies worldwide. TriQuint has facilities located in Oregon, Texas, Florida and Massachusetts in the United States and in Costa Rica. All facilities are certified to the ISO9001 International Quality Standard. For more information on TriQuint, visit www.tqs.com.

CONTACT: Phasebridge Inc. Ronald T. Logan Jr., Ph.D., 626/304-7610 ext. 207