VideoAmp Raises $75M in Committed Financing from Capital IP

Software and data platform, VideoAmp, has secured a total of $50M of non-dilutive debt financing from Capital IP with the ability to draw up to $25M in further capital. The funding will further accelerate VideoAmp’s leadership position in planning, measurement, optimization and currency solutions for the convergent TV ecosystem.

Seismic Acquires Percolate to Create Exceptional Content Experiences at Every Point in the Customer Journey

Seismic, the market leader for sales enablement platforms, today announced the acquisition of Percolate, a leading marketing campaign orchestration and content management platform. With this acquisition, Seismic strengthens its ability for marketers to deliver personalized and compelling content throughout the entire customer journey and across all channels. This includes initial customer engagement via email, social, and other channels, as well as across customer-facing teams, such as sellers, customer success representatives, and partners...

Percolate Secures $32 Million in Financing and Expands Team to Accelerate Growth

Percolate, the premier enterprise content marketing platform, today announced....

Capital IP completes structured debt investment in GuideSpark

Capital IP Investment Partners (“Capital IP”) announced today that it has completed a structured...

Capital IP completes $22 million structured debt investment in Questback

Capital IP Investment Partners (“Capital IP”) announced today that it has completed a $22 million...

Magnum Semiconductor acquired by GigPeak for $55 million

GigOptix, Inc., a leading supplier of advanced semiconductor communications components for...

Capital IP closes inaugural $100 million investment vehicle

Capital IP Investment Partners, LLC (\"Capital IP\" or \"CapIP\"), an investment firm focused on structured...

Capital IP completes $36.2 million structured credit investment in Magnum Semiconductor

Magnum Semiconductor Inc. (“Magnum”) announced that it has secured a $36 million structured debt...

SiTime acquired by MegaChips for $200 million

SiTime Corporation, a MEMS and analog semiconductor company, today announcedthat it has signed...

Capital IP completes $15 million investment in SiTime

SiTime Corporation, a MEMS analog semiconductor company, today announced that it has closed $25...

VideoAmp Raises $75M in Committed Financing from Capital IP

Software and data platform, VideoAmp, has secured a total of $50M of non-dilutive debt financing from Capital IP with the ability to draw up to $25M in further capital. The funding will further accelerate VideoAmp’s leadership position in planning, measurement, optimization and currency solutions for the convergent TV ecosystem. As the consumer video viewership landscape continues to fragment and the need for an infrastructure that unifies linear TV, streaming and digital media audiences intensifies, VideoAmp is positioned as the solution for advertisers, agencies and media owners, redefining how media is valued, bought and sold.

VideoAmp has seen over 700% growth over the last five years and is on track to approximately double year-over-year growth in 2021. The round will be used to continue hiring best in class executives and massively expand sales, client success and engineering teams. Most recently, VideoAmp brought on Paul Ross, former Trade Desk CFO, as their Chief Financial Officer and newest board member.

Co-Founder and CEO, Ross McCray, stated: “Our execution and strong financial performance have allowed VideoAmp optionality on funding our growth plans. We are happy to partner with Capital IP for the access to growth capital in order to fully capture our land grab opportunity on great terms and without shareholder dilution. It is the best of both worlds.”

The latest round of funding indicates a new phase of growth for VideoAmp as it seizes the opportunity to create measurement, currency and optimization solutions for the $160B convergent TV ecosystem. As an alternative solution to the legacy model of television measurement, VideoAmp is further investing in their proprietary dataset that commingles ACR and Set-Top Box data across 28M households and integrates into multiple digital data sources using first-to-market privacy-safe methodologies like clean rooms. The use of clean rooms allows VideoAmp to accurately measure media on an impression level, with technological guarantees, while adhering to privacy guidelines and state laws. VideoAmp’s data, combined with a comprehensive toolset for planning, measurement, optimization and attribution, are all housed within the VideoAmp platform and provide a deduplicated view of advertising performance across linear, streaming and digital. The suite of tools and data enables marketers and media owners to reimagine the way brand marketing and media is valued, bought and sold.

Aron Dantzig and Riyad Shahjahan, both Partners at Capital IP, jointly stated: “Ross and the team at VideoAmp have built one of the most technologically advanced and effective platforms to measure and optimize linear TV, streaming and digital advertising in the world. We are thrilled to partner with the company going forward as they continue to redefine the cross-channel video advertising industry with innovative, privacy-compliant platforms that deliver critical insights to media owners, advertisers and agencies alike when legacy systems fail to support.”

Momentum for the company shows no sign of slowing as a slew of key partnerships were announced through the early months of 2021. Supply-side platform OpenAP and media giant Omnicom Media Group announced VideoAmp as the first partner to integrate with their platform in a first-to-market partnership. NBCUniversal also called upon VideoAmp as the first measurement partner to integrate with their newly formed Audience Insights Hub. Most recently, dentsu named VideoAmp as its data partner of choice for its newly formed DELTA team with the goal of revolutionizing the way media investments are planned, bought and measured.

About VideoAmp

VideoAmp is a software and data company creating a convergent TV ecosystem by connecting the disparate systems across traditional TV, streaming and digital media. Siloed views into these systems are responsible for wasted advertising dollars, a decrease in publisher revenue opportunities and consumers being stuck with overly repetitive ads.

The VideoAmp platform and its suite of tools, creates a unified, privacy-first view of the audience that powers a more effective value exchange for the entire advertising industry. This value exchange enables an alternative media currency, which redefines how media is valued, bought and sold. Advertisers use VideoAmp’s technology to increase their return on investment with holistic data-driven planning, measurement, and optimization, while empowering publishers to effectively monetize audiences across their entire portfolio of assets. To learn more, visit us at videoamp.com.

Seismic Acquires Percolate to Create Exceptional Content Experiences at Every Point in the Customer Journey

Seismic, the market leader for sales enablement platforms, today announced the acquisition of Percolate, a leading marketing campaign orchestration and content management platform. With this acquisition, Seismic strengthens its ability for marketers to deliver personalized and compelling content throughout the entire customer journey and across all channels. This includes initial customer engagement via email, social, and other channels, as well as across customer-facing teams, such as sellers, customer success representatives, and partners.

The acquisition will result in an offering that enables marketers to have full control and oversight into how their content impacts this new buyer landscape. By combining Seismic’s industry leading sales enablement and asset management functionality with Percolate’s content orchestration and campaign planning tools, marketers will have comprehensive control and agility to efficiently align the most compelling and personalized content wherever and whenever the customer interacts with their brand. The unification of two essential pillars in the marketing technology stack will also offer comprehensive insights and data for marketers to make full-scale, intelligent improvements to their entire content investment.

“Marketers understand that producing personalized, compelling content is foundational to providing value to their company’s bottom line and therefore the business at large,” said Doug Winter, Seismic co-founder and CEO. “Percolate will be essential in helping Seismic widen our industry lead in enabling marketers do so in one-to-one customer interactions while also expanding our combined capabilities into all content initiatives and distribution channels.”

Due to rapid changes in buyer behavior and expectations, non-personalized content is now an unacceptable marketing practice. In August, Forrester Consulting found that 85 percent of enterprises agree that buyers will dismiss their brand if they don’t provide tailored information. At the same time, the streamlined and linear “purchase funnel” has been rendered obsolete, with Gartner noting that buyers revisit each of the six buying “stages” at least once during their purchase.

“Seismic and Percolate have both built their success on the principle that content is at the heart of the modern buyer experience,” said Randy Wootton, CEO of Percolate. “Both of our companies endeavor to foster better alignment between marketing and sales and improve the buyer/seller interaction, resulting in accelerated deals and pipeline for our customers. Combining with Seismic allows Percolate to provide even more capability to our customer base and more value to the marketing ecosystem.”

Founded in 2011, Percolate has grown into one of the leaders in the enterprise content marketing space, with customers that span both business and consumer brands including DHL, Electronic Arts, VMWare, and DocuSign. Wootton will join Seismic’s senior leadership team and continue to lead the Percolate team, reporting directly into Seismic CEO Doug Winter.

With the acquisition, Seismic boasts a roster of 750 customers. Headcount exceeds 800 across 12 offices.

For more information about Seismic, visit seismic.com/product/.

About Seismic

Seismic is the recognized leader in sales and marketing enablement, equipping global sales teams with the knowledge, messaging, and automatically personalized content proven to be the most effective for any buyer interaction. Powerful content intelligence and analytics enable marketers to prove and improve their impact on the bottom line, revealing what is really driving revenue and what needs to be adjusted. The result for global enterprises like IBM, American Express, PayPal, and Quest Diagnostics is better win rates, larger deals, and higher customer retention. Seismic is headquartered in San Diego with additional offices in North America, Europe, and Australia. To see how Seismic is being used by companies in your industry, visit seismic.com.

About Percolate

Percolate is an Orchestration Hub that gives marketers the power to control all aspects of the marketing lifecycle. Percolate offers solutions to introduce visibility into the marketing process, improve coordination of work, and effectively build marketing campaigns and content. The world’s largest enterprises — including Mazda, IWG, Robert Bosch, and Rockwell Automation — use Percolate to create a coordinated customer experience, reduce production costs, and understand marketing impact.

Percolate Secures $32 Million in Financing and Expands Team to Accelerate Growth

Percolate, the premier enterprise content marketing platform, today announced that it has secured $32 million in financing from existing investors including GGV Capital, Sequoia, and Lightspeed, and new investor Capital IP Investment Partners (“CapIP”). The funds will be used to accelerate Percolate’s leadership position in the content marketing category and invest in the next wave of marketing technology innovation.

Since 2011, the company has built systems that help enterprises organize, plan and execute marketing campaigns — unlocking the potential of marketing organizations. This added support will be key in meeting the growing needs of enterprise customers by adding high-value capabilities that expand the reach of the Percolate platform and critical integrations with other leading marketing technologies in the ecosystem.

“Percolate has been steadfast in its mission to redefine the content marketing platform category. Its rapid growth, long list of customers, strong retention metrics, analyst recognition, and highly experienced management team made a compelling case for us to invest now,” stated Riyad Shahjahan and Aron Dantzig, both Partners at CapIP. “We are excited to partner with Percolate to help accelerate their next phase of growth.”

Jeff Richards, Managing Partner of GGV Capital, an early investor in Percolate said, “This sizeable investment is a strong validation of Percolate’s blue-chip customer base of global brands as well as Randy’s leadership over the last year and the opportunity ahead for Percolate.”

Since 2018, when Randy Wootton took over as CEO, the company has experienced rapid growth, including 53 percent year over year ARR. Wootton brings with him two decades of experience scaling marketing and technology platforms around the world. The team was recently bolstered by the addition of Steve Shevick, a seasoned Silicon Valley CFO, to help scale the company in anticipation of continued growth and to take Percolate to the next level.

“At a time when our customers are facing an explosion of channels, markets, and devices—often with limited budgets — we provide the tools that help them get the most out of their content and expand the capabilities of their teams,” said Wootton. “We are delighted to add CapIP to our list of talented and supportive investors. This financing demonstrates the exciting traction we are gaining and the opportunity that lies ahead.”

About Percolate

Percolate is the leading Content Marketing Platform for the enterprise. Percolate offers solutions to introduce visibility into the marketing process, improve coordination of work, and effectively build marketing campaigns and content. The world’s largest brands — including Mastercard, Cisco, Electronic Arts, and Bosch — use Percolate to create a coordinated customer experience, reduce production costs, and understand marketing impact.

Capital IP completes structured debt investment in GuideSpark

Capital IP Investment Partners (“Capital IP”) announced today that it has completed a structured debt investment in GuideSpark, Inc. (“GuideSpark”), the leader in employee communication. The financing will be used to advance GuideSpark’s continued growth as the SaaS company scales its market-leading Communicate Cloud software. GuideSpark is headquartered in Redwood City, California.

“This investment helps GuideSpark sustain our momentum and scale our employee communication solutions to meet the growing need of enterprise customers looking to better connect and communicate with their employees,” GuideSpark CEO Keith Kitani said. “GuideSpark’s unique blend of content, software and campaign technology enables 600 customers to inspire, inform and activate their employees, leading to greater adoption of HR programs.”

GuideSpark recently expanded its Communicate Cloud capabilities to address a broad set of mission-critical HR initiatives including benefits, total rewards, talent, and culture – driving employee engagement around important topics and strengthening their connection to company value.

“Capital IP is delighted to partner with the GuideSpark team at this important phase of their growth as they launch the Communicate Cloud product to transform employee engagement and communication,” said Riyad Shahjahan, Partner at Capital IP. “GuideSpark’s diverse customer base uses its software and content to run focused HR campaigns that result in improved retention, engagement and performance. The company’s deep enterprise customer relationships, demonstrated value proposition, and a market-leading technology platform were crucial factors in motivating us to partner with GuideSpark.”

“GuideSpark is an excellent example of Capital IP’s dedicated focus to provide unique, flexible, minimally dilutive structured-credit solutions for emerging businesses with strong revenues and established market penetration,” added Aron Dantzig, Partner at Capital IP. “Capital IP looks forward to further utilizing our industry expertise to be a value-add partner for growth businesses whose innovative products and services deliver value to both customers and investors alike.”

About GuideSpark:

GuideSpark is the leader in employee communication with 600 enterprise customers, who use its software and solutions to effectively engage over 22 million employees and achieve HR program adoption goals. GuideSpark is the only company that blends software and content experiences to deliver communication campaigns that inspire, inform and activate employees. The result is measurable employee engagement and greater connection to the employer value proposition. To learn how you can transform your employee communications, visit http://www.guidespark.com.

Capital IP completes $22 million structured debt investment in Questback

Capital IP Investment Partners (“Capital IP”) announced today that it has completed a $22 million structured debt investment in Questback AS (“Questback”). Questback, headquartered in Oslo, Norway, is Europe’s leading supplier of Software-as-a-Service (SaaS) solutions for Enterprise Feedback, Employee Engagement and Customer Experience. The financing will be used to advance Questback’s further growth in the enterprise markets of the U.S., U.K. and Central Europe as well as to broaden its enterprise product offering.

“We have an extremely strong footprint in Europe, and we are now expanding aggressively in North America with our market-leading offering. We will expand our go-to-market organization in the U.S., UK and Central Europe and also further strengthen our technology platform. We continue to see that digitalization, innovation and hyper-competition are disrupting our customers’ business and driving increased demand for feedback” said Frank Møllerop, CEO of Questback.

“The Questback team has successfully built a strong and diversified feedback business that has been deployed by over 5,000 companies and a third of the Forbes 100.  We are delighted to partner with Frank and his team to help accelerate the next phase of the company’s growth. The combination of Questback’s unique presence across Europe, leading multi-tenant SaaS platform, long-term relationships with global customers and partners, and highly experienced management team was a compelling thesis for Capital IP,” said Riyad Shahjahan, Partner at Capital IP.

About Questback:

Questback is a global leader in enterprise feedback management with more than 5,000 customers world-wide using its solutions for gathering, analysing and acting on business-critical information. Questback’s customers improve their top-line and organizational efficiency by improving the customer and employee experience. Like Questback, its customers believe that people and businesses need feedback to learn and grow, and Questback’s technology allows companies to capture this wisdom from customers, employees and the markets. Please see www.questback.com for more information.

Magnum Semiconductor acquired by GigPeak for $55 million

GigOptix, Inc., a leading supplier of advanced semiconductor communications components for use in Cloud connectivity, data centers, and high-speed optical and wireless networks, today announced the signing of a definitive agreement to acquire Magnum Semiconductor, Inc., a privately-held Milpitas, California-based provider of silicon ICs, SoCs, software, and IP for the professional video broadcast and IoT camera markets, in a cash and stock transaction valued at approximately $55 million net based upon the average closing price of GigOptix stock for the trailing thirty day period ended April 1, 2016. The acquisition is expected to become effective tomorrow, Tuesday, April 5, 2016, and upon the close, GigOptix, Inc. will be renamed GigPeak, Inc., beginning to operate under that name as of Wednesday, April 6, 2016.

“We have a long and proven track record of acquiring and integrating cutting edge technology companies in the most financially prudent manner. The acquisition of Magnum Semiconductor, our eighth acquisition since inception, is another important step in realizing our initial 2007 roadmap vision and strategic plan to expand GigOptix through inorganic and organic growth. With the addition of Magnum Semiconductor, we have taken a meaningful step in expanding our product portfolio to further enhance our mission of enabling high-speed and high-quality information streaming end-to-end over the network, from the core to the consumer,” said Dr. Avi Katz, GigOptix’s Founder, Chairman of the Board of Directors and Chief Executive Officer. “We look forward to supporting Magnum’s continuing efforts as part of the newly rebranded GigPeak family to drive innovation through their proven and market accepted software-based solutions to deliver best-in-class video and data to the world’s leading broadcasting and IoT camera OEMs and customers. The exponential growth in video traffic will further expand the demand for GigOptix’s and Magnum’s solutions in real-time high-speed and high-quality information streaming, video compression in the cable, satellite, telco/IPTV and mobile/over the top (OTT) markets. The increasing need for powerful video analytics capabilities has also been driving significant interest in Magnum’s solutions in the IoT camera markets by major OEMs. We are impressed by Magnum’s technology, customers, growth profile, and the technical depth and experience of its engineering team. We are very excited by the many opportunities this combination offers that will enable us to expand our focus from the enterprise networking and cloud connectivity to broadcasting head-ends, IoT, and consumer markets. I also want to personally offer a warm welcome to the entire Magnum team that is joining our family today.”

Gopal Solanki, Chief Executive Officer and President of Magnum Semiconductor stated, “The combination of GigOptix’s leading edge wired and wireless high-speed communication technology, combined with Magnum’s professional quality video compression and SoC hardware and software expertise creates a unique and powerful platform for streaming video. The Magnum team is excited to join forces to develop solutions for a future where video presence is pervasive and widely deployed at both the consumer and commercial premises.”

“We have researched the market for a long time to identify the best-in-class video broadcasting, compression and analytics technology company that will allow us to complement our leading edge high-speed connectivity product portfolio for the telecom and datacom enterprise networking. This combination of products and technologies enable us to address both the speed of data transmission and the amount of bandwidth the data consumes within a network, driven in particular by video, which is a major source of data center traffic. We are poised to provide powerful solutions to enhance the footprint utilization and reduce total cost of ownership of existing network pipes from the core to the end user. GigPeak’s broad portfolio of cutting-edge products will serve the enterprise networking and broadcasting OEMs, as well as the IoT and consumer markets,” said Dr. Raluca Dinu, GigOptix’s Executive Vice President of Global Customer Operations.

Magnum Semiconductor is a leading provider of silicon ICs, SoCs, software and IP for the professional video broadcast and IoT camera markets. Magnum provides top of the line products, tools and technologies for the entire video content creation and distribution chain, from contribution and production through distribution over cable, satellite and IPTV to OTT video streaming. Magnum Semiconductor is headquartered in Milpitas, California, with sales and engineering offices in Canada, China, and Korea.

 

Capital IP closes inaugural $100 million investment vehicle

Capital IP Investment Partners, LLC (“Capital IP” or “CapIP”), an investment firm focused on structured investment opportunities in the life sciences and technology sectors, announced today that it has closed its inaugural $100 million investment vehicle with the backing of a leading institutional partner.

CapIP is focused on providing flexible capital solutions to a broad spectrum of companies spanning biopharma, medical devices, medical tools and diagnostics, and IT software, services and hardware. Capital IP seeks to create highly customized investment structures that offer fast-growing companies greater flexibility than traditional sources of growth capital with minimal equity dilution. These structured investments also offer Capital IP’s investors reduced downside, multiple sources of investment return, and limited correlation to other asset classes.

Capital IP has completed several transactions since the firm’s launch and are actively seeking and evaluating additional investment opportunities across a rapidly expanding opportunity pipeline.  The firm’s senior partners previously invested over $1.2 billion in a variety of structured credit facilities, royalty monetizations, and the acquisition of “legacy” assets at their prior firms.

“We are excited to have formalized a committed line of capital with one of our limited partners, who has been a long-time supporter and participant in our investments” said  Aron Dantzig, the firm’s founder and a Managing Partner. “We believe that our innovative approach to providing growth capital to emerging companies offers a real alternative in today’s volatile capital markets.

“Access to cost-efficient capital continues to pose a challenge for many emerging-growth companies, especially those with a deep base of underlying assets and misunderstood inherent value,” added Managing Partner Riyad Shahjahan. “We are seeing strong demand for our type of non-traditional, minimally dilutive capital in both the technology and life sciences sectors.”

 

Capital IP completes $36.2 million structured credit investment in Magnum Semiconductor

Magnum Semiconductor Inc. (“Magnum”) announced that it has secured a $36.2 million structured debt financing from Capital IP Investment Partners (“CapIP”). The proceeds from the financing will be used to retire existing debt, continue to invest in the technology roadmap and for working capital purposes.

Magnum CEO Gopal Solanki commented, “With this unique financing, Magnum has significantly strengthened our balance sheet and working capital position. The team at CapIP delivered a novel structured debt solution which allows Magnum significant financial and operating flexibility as we continue to focus on and invest in our next generation video compression technology and products. We are excited that our current products are being adopted by many of the leading original equipment manufacturers (“OEM’s”) in our industry and being deployed at many of the most well recognized major service operators around the world.”

Riyad Shahjahan, Partner at CapIP, stated, “We are excited to partner with Magnum as they continue to drive innovation through their software-based solution to deliver best-in-class video, audio and data to the world’s leading OEM’s. The exponential growth in video traffic will further expand the demand for Magnum’s solutions in real-time video compression in the cable, satellite, telco/IPTV and mobile/over the top (“OTT”) markets. We are impressed by Magnum’s technology, customers, growth profile and the depth and experience of its management team and look forward to working with them on the next stage of their evolution.”

About Magnum Semiconductor:
Magnum is a leading provider of video compression and processing solutions for the video broadcast networking market. Magnum’s solutions include its proprietary video management ASIC’s, algorithms and firmware. Magnum provides best in class products, tools and technologies for the entire video content creation and distribution chain from contribution and production through distribution over cable, satellite, IPTV and OTT. Magnum is headquartered in Silicon Valley, California and has R&D centers in Waterloo, Canada and Beijing, China.

SiTime acquired by MegaChips for $200 million

SiTime Corporation, a MEMS and analog semiconductor company, today announced that it has signed a definitive agreement under which MegaChips Corporation, a top 25 fabless semiconductor company based in Japan, will acquire SiTime for $200 million in cash. This transaction combines two complementary fabless semiconductor leaders that provide solutions for the growing Wearables, Mobile and Internet of Things markets.

“SiTime’s founders, Markus Lutz and Dr. Aaron Partridge, started the company with a vision of developing game-changing MEMS and analog technology to revolutionize the $5 billion timing industry,” said Rajesh Vashist, CEO of SiTime. “Through innovation, passion and focus, we’ve successfully delivered on this vision. Today, SiTime is the overwhelming leader – we have 1000 customers, 250 million units shipped, major design wins in all electronics segments, and a roadmap that extends SiTime’s MEMS technology to all timing markets.”

“Every SiTime employee is excited to be part of MegaChips as we share a common entrepreneurial culture,” continued Vashist. “MegaChips’ financial strength and scale, with SiTime’s innovation and passion, will rapidly accelerate the adoption of MEMS timing solutions.”

While the world of electronics has delivered many innovations, the clock function, which is the heartbeat in all electronics, still uses 75-year-old quartz technology. SiTime’s innovative MEMS timing solutions replace dated quartz products in the telecom, networking, computing, storage and consumer markets, with the benefits of higher performance, smaller size, and lower power and cost.

“MegaChips has an aggressive growth strategy with a vision to become one of the top ten fabless semiconductor companies through both organic growth and strategic acquisitions,” said Akira Takata, President and CEO of MegaChips Corporation. “MEMS components are fuelling the growth of the semiconductor industry. Through the acquisition of SiTime, MegaChips becomes a leader in MEMS. SiTime will help us expand our portfolio and diversify our customer base. SiTime technology is the perfect match for MegaChips’ solutions that target Wearables, Mobile and IoT markets such as “frizz”, our ultra-low-power smart phone Sensor Hub LSI and BlueChip Wireless, a sub-GHz RF LSI.”

“As a founding investor in SiTime, Bosch recognized early on the tremendous vision and innovation behind SiTime’s approach to MEMS timing,” said Dr. Volkmar Denner, Chairman, Board of Management of Robert Bosch GmbH. “We have closely followed their success from a Silicon Valley startup to a revenue-generating company that sells to some of the world’s largest electronics companies. We are pleased that MegaChips is acquiring SiTime and we expect a bright future for the combined companies.”

“We are delighted by this merger. MegaChips and SiTime are very complementary companies with similar innovative and entrepreneurial cultures, and a unified vision that can transform the electronics industry,” said Joe Horowitz, Managing General Partner at Jafco Ventures and a SiTime Board Member. “By leveraging SiTime’s proprietary technologies and highly differentiated products, I have no doubt this combination is just at its opening act with a great future ahead.”

“Over the past ten years, SiTime has built an extraordinary technology platform and a family of products that is in high demand at leading customers,” said Brooke Seawell, a Venture Partner at New Enterprise Associates and a founding investor and Board Member at SiTime. “With MegaChips’ operational and global scale, SiTime’s future is bright. The combined company will accelerate the adoption of MEMS timing solutions and will become a leading supplier to the electronics industry.”

Upon closing, scheduled for November 2014 pending regulatory approvals and customary closing conditions, SiTime will retain its name and operate as a wholly owned subsidiary of MegaChips. During this transaction, Needham & Company, LLC served as the exclusive financial advisor to SiTime.

MegaChips Corporation (1st section of the TSE (Tokyo Stock Exchange): 6875) was established in 1990 as an innovative fabless company dedicated to ASICs and system LSIs with the goal of integrating LSIs and systems knowledge and solutions. Its focus is on the development of cutting-edge system LSIs and systems products incorporating original algorithms and architecture in the areas of imaging, audio, and telecommunications, and using the advances it achieves to offer outstanding products and solutions that meet the needs of its clients.

Capital IP completes $15 million investment in SiTime

SiTime Corporation, a MEMS analog semiconductor company, today announced that it has closed $25 million in new financing, which consisted of a combination of structured debt facility of $15 million provided by Capital IP Investment Partners LLC (“CapIP”) and strategic equity investment from other investors.

“SiTime has had a strong and enduring vision – to revolutionize the timing market with MEMS and analog technologies. Today, that vision is a reality, achieved through single-minded focus and rapid innovation. We have the best MEMS technology, the broadest product portfolio, the largest customer base, the highest shipped volumes, and are the preferred timing supplier for exciting new applications such as wearables and Internet of Things (IoT),” said Rajesh Vashist, CEO of SiTime “This financing, along with our leadership position, forms an unbeatable combination for future growth and innovation. We are pleased that CapIP recognizes SiTime’s market and revenue leadership and we value their industry expertise and ability to work with us to tailor the financing to our business objectives and long-term strategy.”

“CapIP is delighted to partner with SiTime to help fuel the company’s next phase of innovation and commercialization which will extend its market leadership position in MEMS-based timing.  SiTime’s unique mix of highly differentiated IP, an exceptional leadership team and proven execution in a large and growing market resulted in a compelling investment thesis for CapIP,” said Riyad Shahjahan, partner at Capital IP Investment Partners. “We are confident that CapIP’s debt facility, specifically designed to maximize operational and financial flexibility, will enable SiTime to continue to capitalize on the sizable market opportunity for its silicon MEMS timing solutions.”

About SiTime:

SiTime Corporation, a MEMS analog semiconductor company, offers MEMS-based silicon timing solutions that replace legacy quartz products. With 80% market share and about 250 million devices shipped, SiTime is driving the electronics industry to use 100% silicon-based timing.

SiTime’s configurable solutions enable customers to differentiate their products with higher performance, reduced size and better reliability. The rich feature set and flexibility of our solutions allows customers to consolidate their supply-chain, reducing cost of ownership and time to market. By using standard semiconductor processes and high volume plastic packaging, SiTime offers the best availability and shortest lead times in the industry.

Top-tier manufacturers are experiencing these benefits and recognize SiTime as The Smart Timing Choice™.

For more information, please visit www.sitime.com.