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August 19th, 2005
Magnum Semiconductor Obtains
Funding – Quarterly Revenue Reported
Magnum Semiconductor, a fabless semiconductor company originated
from the operations of Cirrus Logic, has reported that it has obtained funding from Investcorp Technology Venture and August
Capital. The funds are planned for expansion of R&D operations and for working capital. Elaborating on the use of funds
was Dr. Jack Guedj, acting CEO at Magnum, "With our core expertise in digital media processing ICs, software and system platforms,
Magnum Semiconductor will use the investment proceeds to expand its leadership position in DVD recorders and other growing
digital media platforms,"
With the investment announcement, Raj Singh, partner at Investcorp,
commented on the company’s target market as well as revealed Magnum’s latest quarterly revenues, "Magnum Semiconductor
presented a unique investment opportunity in the fast growing DVD recorder market with a solid tier-1 customer base and ramping
revenue streams exceeding $9 million in the June 2005 quarter."
Magnum, with over 150 employees, is based in Fremont, California
and has offices in Korea, Taiwan and China.
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