Intel leads Legend Silicon $40M funding round
By Colleen Taylor -- EDN, March 22, 2007
Intel Capital, leading chipmaker Intel Corp.'s venture capital arm, has led a series D private equity investment round worth up to $40 million in Legend Silicon Corp., a Beijing, China-based fabless semiconductor company that manufactures the core IC for digital broadcasting and broadband transmission.
Legend Silicon said the proceeds will be used to develop terrestrial DTV demodulation IC products in full compliance of China's recently approved digital television terrestrial broadcasting standard announced in August 2006. Working closely with Tsinghua University in Beijing, Legend Silicon is one of the key contributors to the new standard, commonly referred to as DMB-TH.
"Legend Silicon is making important contributions to the DTV industry in China," Arvind Sodhani, president of Intel Capital, said in a statement. "We foresee vast potential in this market segment and aim to invest in companies providing crucial technologies that will fuel future growth for China and the world. We believe this investment will help foster further innovation for China's digital entertainment industry."
"With this home grown technology, people all over China will be able to experience high definition terrestrial television at minimal cost," Lin Yang, chairman of the board and CTO of Legend, added in the statement. "The technology will prepare China for full digital TV transmission of the 2008 Olympics Games in Beijing."
