AnalogicTech Secures Funding from Samsung

Jun 15, 2004 11:43 AM
Edited by PETech Staff

Advanced Analogic Technologies Inc., (AnalogicTech), a developer of innovative power management solutions, announced today that Samsung Ventures America, the U.S.-based venture capital investment arm of Samsung Electronics and Samsung Venture Investment Corporation, has invested $2 million in AnalogicTech. This investment is an extension of Series E Financing that was originally announced on January 20, 2004.

“Our strategic investment in AnalogicTech represents our solid commitment to investments that will enhance the development and performance of portable products,” said Jay Eum, managing director of Samsung Ventures America. “Based on AnalogicTech’s strong customer acceptance, along with its circuit design and process technology expertise, we believe the company is well positioned to help designers satisfy consumer demand for more functionality while maintaining or extending battery life in such portable products as mobile phones, MP3 players and digital cameras.”

“Samsung Ventures America’s investment is truly synergistic,” said Richard K. Williams, AnalogicTech’s president and CEO. “Both Samsung Electronics and AnalogicTech are focusing on developing and applying innovations in power management technology for new generations of portable devices such as mobile phones as well as other handheld systems in consumer, computing and communication markets.”

Samsung Ventures America joins other AnalogicTech corporate partners, including Mitsubishi Corp., Vanguard Semiconductor and VIA Technologies Inc., who previously participated in the funding round with corporate venture investors China International Development Consulting Inc. (CIVC) and Sycamore Ventures. Battery Ventures, a leading venture capital firm led the original Series E financing with participation from existing investors Mosel Vitelic Inc., Sunsino Ventures Group, Maton Ventures, InveStar Capital and Hotung Ventures. The Series E private equity financing will be used for working capital to support ongoing revenue growth. As part of this process, AnalogicTech will extend its global presence by strengthening its worldwide sales and support staff and adding new members to its design team in its Sunnyvale, Calif., headquarters.

For more information, visit www.analogictech.com.

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