Samsung Invests in Power Management Player
Online staff -- Electronic News, 6/15/2004
Samsung's U.S. venture arm has invested $2 million in Advanced Analogic Technologies Inc., a power management IC player.
This investment is an extension of series E financing that was originally announced on Jan. 20.
“Our strategic investment in AnalogicTech represents our solid commitment to investments that will enhance the development and performance of portable products,” said Jay Eum, managing director of Samsung Ventures America, in a statement. “Based on AnalogicTech’s strong customer acceptance, along with its circuit design and process technology expertise, we believe the company is well positioned to help designers satisfy consumer demand for more functionality while maintaining or extending battery life in such portable products as mobile phones, MP3 players, and digital cameras.”
Samsung Ventures America joins other AnalogicTech corporate partners, including Mitsubishi Corp., Vanguard Semiconductor, and VIA Technologies, which previously participated in the funding round with corporate venture investors China International Development Consulting Inc. (CIVC) and Sycamore Ventures.
The series E financing will be used in part to add new members to AnalogicTech's design team in its Sunnyvale, Calif., headquarters.
