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TeraLogic Secures $17.5 Million Investment for DTV Chip DevelopmentCiticorp, Sony, Samsung, Mitsubishi Join Other Investors in Financing Designer of Advanced Digital Television Devices (July 26, 2001)
The funds will be used to support the production ramp of the current second generation chipset, and also to complete development of the third generation, a Digital Television (DTV) System-on-a-Chip.
Citicorp, a long-time investor in TeraLogic, renewed its leading investment position. "In light of such market uncertainty you have to be especially careful about your investments," said Cam Amenedo, vice president of Citigroup Investments. "We believe that TeraLogic has the right combination of technology, partners and solid management to meet the increasing demand for next generation DTV products."
In addition to Citicorp, TeraLogic received continued commitment and support from Sony Corporation, Samsung Electronics and Mitsubishi Electric as well as premier venture capital groups The Mayfield Fund, Levensohn Capital, NY Life, Vertex, and TopSpin Partners.
"To gain strong backing in such a tight economy is challenging for any company," said Jon Castor, CEO of TeraLogic. "We're honored to be receiving the strongest possible vote of confidence from our business and investment partners."
Headquartered in Mountain View, California, with a growing presence in Tokyo, TeraLogic currently has over 100 employees and more than $87 million in invested capital. More information about TeraLogic may be obtained by calling the company directly at 650-526-2000 or by visiting the company's Web site at teralogic.tv.
Related Keywords:DTV Professional, Digital Media Net, TeraLogic, Inc., developer of integrated circuits, platforms, software for digital television, investments, funding, digital TV design, chip set, DTV system-on-a-chip
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