Thursday, March 22, 2007
The venture capital arm of Intel Corp. led a Series D private equity investment of up to $40 million in digital broadcasting and broadband transmission IC vendor Legend Silicon Corp., the companies said Wednesday (March 21).
Legend Silicon (Fremont, Calif.) plans to use the proceeds to develop terrestrial digital TV demodulation IC products that comply with the newly approved China Digital Television Terrestrial Broadcasting standard, the company said. Working closely with Tsinghua University in Beijing, Legend Silicon was one of the key contributors to the standard, also known as DMB-TH, the company said.
"Legend Silicon is making important contributions to the DTV industry in China," said Arvind Sodhani, president of Intel Capital, 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," said Lin Yang, Legend Silicon's chairman and chief technology officer. "The technology will prepare China for full digital TV transmission of the 2008 Olympics Games in Beijing."
By: DocMemory
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