Mirics Secures Additional $7m Funding to Accelerate Worldwide Growth

Mon Jan 5, 2009 6:20am EST

* Reuters is not responsible for the content in this press release.

New investment enables commercial team expansion in US and Asia and new
additions to product roadmap

FLEET, England--(Business Wire)--
Mirics Semiconductor today announced that it has secured $7m of financing from
its existing investor team of Acacia Capital Partners, Intel Capital and Pond
Venture Partners. The funding is in addition to the $12m B-round announced in
August 2007 and will enable Mirics to expand its commercial activities, and also
accelerate further additions to its Mirics FlexiTVTM product line. Mirics
FlexiTV, first announced in 2008, is the world`s first commercially available
software based solution for receiving global broadcast TV and radio on
processor-based platforms such as notebook computers and portable media players

"When Mirics first announced FlexiTV in the summer of 2008, we knew the industry
reaction to this disruptive technology would be very positive. In fact, the
commercial progress that Mirics has made since the product launch has prompted
significant expansion of our commercial team in the US and Asia, to support our
rapidly growing customer base," explains Mirics CEO, Simon Atkinson. "This
additional funding from our existing investors confirms their commitment and
belief in the commercial prospects for Mirics` technology. It will enable Mirics
to meet the customer demand for FlexiTV and also support product portfolio
expansion to address newly identified market segments." 

Commenting on behalf of the investor team, Marcos Battisti, Mobility Sector
Director at Intel Capital, said: "With FlexiTV, Mirics has demonstrated the
commercial viability of a true universal broadcast receiver for portable
processor-based platforms. The industry response to FlexiTV has been extremely
positive, and the investors were keen to ensure Mirics had the long-term
financial security to aggressively grow the commercial team and product
portfolio to support customer demand. The fact that Mirics has secured this
funding in such an uncertain global economic climate is testament to the
strength of its technology and world-class team." 

About Mirics

Mirics Semiconductor Inc. is a venture-backed fabless semiconductor company
developing innovative RF silicon and software solutions to bring nomadic global
broadcast reception to portable and PC platforms. Founded in April 2004 and
based in Hampshire, UK, Mirics has brought together a strong development and
operations team with extensive experience in delivering high performance
integrated circuits and algorithmic IP into high volume wireless, broadcast and
cellular applications. 

Mirics was originally backed with Series A funding from Pond Venture Partners,
Europe's largest early-stage technology fund. In August 2007 the company closed
a $12m Series B round securing backing from Intel Capital, the global investment
arm of Intel Corporation, Acacia Capital Partners, and further investment from
Pond Venture Partners. 

Based upon projections from analysts such as IDC and Gartner, Mirics expects the
PC TV market to exceed 32 million shipments (OEM + retail) by 2010. 


Mirics Semiconductor
Chet Babla, +44 7739 108 648
Chris King, +44 20 8408 8000

Copyright Business Wire 2009

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