IMMEDIATE RELEASE
CICLON SEMICONDUCTOR ANNOUNCES $12 MILLION INVESTMENT
High-Frequency Power Semiconductor Company Receives Series A from Leading East Coast Venture Firms
IMMEDIATE RELEASE
CICLON SEMICONDUCTOR ANNOUNCES $12 MILLION INVESTMENT
High-Frequency Power Semiconductor Company Receives Series A from Leading East Coast Venture Firms
BETHLEHEM, PA, October 26, 2005 -- CICLON Semiconductor Device Corporation [pronounced See-Clone], an emerging leader in the design, development and sale of high frequency, high efficiency power semiconductor solutions, today announced the close of its first round of financing at $12 million. Investors included two highly respected early-stage technology venture firms: TL Ventures and Venrock Associates.
CICLON was established in March 2005 to address the rapidly growing demand for high frequency power solutions in the communications infrastructure and computer systems markets. In April 2005, the company acquired highly advanced RF power products technology from Agere Systems.
"We are thrilled to have the endorsement and support of TL Ventures and Venrock Associates as we continue to broaden our presence in this very exciting market. This investment allows CICLON to dramatically broaden its product portfolio while accelerating go-to-market activities," said Mark Granahan, Founder, President, and CEO of CICLON. "Its been a tremendous experience working with the professionals at TL Ventures and Venrock. We’re building confidence, strength, and momentum!"
Michael Feinstein of Venrock Associates joins Michael Burns and F. Javier Fernandez, PhD of TL Ventures as directors on CICLON's board.
"We are very happy to invest in CICLON", said Feinstein. "The company represents a unique opportunity to build a significant business in a large and growing market. We look forward to helping Mark and his team realize that goal."
"CICLON represents a unique combination of solid intellectual property, experienced management, and a development team with deep execution experience", adds Burns. "The company is bringing revolutionary products to a large market."
CICLON Semiconductor Device Corporation is headquartered in Bethlehem, Pennsylvania. The company is a client of the Ben Franklin Technology Partners of Northeastern Pennsylvania, a state-funded economic development initiative which supports early-stage technology firms. More information about the company is available on their website www.ciclonsemi.com.
Media Contact:
Chris Bull
Director of Marketing
CICLON Semiconductor Device Corp.
116 Research Drive
Bethlehem, PA 18015
610-849-5100
cbull@ciclonsemi.com