Mirics,

Mirics secures additional $13M funding to fuel company growth

News Release from: Mirics Semiconductor
13 July 2010

Mirics, the software-based broadcast TV receiver pioneer, today announced that it has secured $13M in additional funding with existing investors - Acacia Capital Partners, Intel Capital and Pond Ventures – all participating in this latest financing round. This additional funding will enable Mirics to grow its market share for its ground-breaking Mirics FlexiTV solution, targeting a wide range of consumer devices and PC platforms.

By addressing globally and nationally diverse TV and radio broadcast standards, Mirics is continuing to grow its customer base for its software-plus-silicon FlexiTV platform. In parallel, there is a growing industry trend for integration of broadcast TV functionality in notebook, netbook and desktop PCs; FlexiTV delivers the lowest-cost means to integrate a multi-standard broadcast receiver into such mass-market consumer products worldwide.

Simon Atkinson, CEO, Mirics, said: “Securing this financing during the current global economic conditions reinforces the continued confidence and support we receive from our investors. This investment will enable us to further capitalize on the current industry demand for broadcast-enabled consumer devices using our FlexiTV solutions and increase our resources to support our growing customer base.”

Marcos Battisti, Managing Director, Intel Capital, commented: “Mirics’ investment team have all been very impressed at its recent multiple successes in securing new business across a diverse customer base. This new funding will enable Mirics to continue building its commercial growth and maintain its leadership position in software-based global broadcast receivers.”