Intel Capital Invests $40 Million in DTV Chipmaker
Intel Capital, the investment arm of chipmaker Intel Corp., is investing up to US$40 million in a digital TV integrated circuit (IC) maker.
Intel Capital said Wednesday it's providing the Series D private equity investment in Legend Silicon Corp., a fabless semiconductor company that specializes in ICs for digital broadcasting and broadband transmission.
Legend is headquartered in Fremont, California, but also has operations in Beijing and Shanghai.
Specifically, the company makes terrestrial digital TV (DTV) demodulation products that comply with the new China Digital Television Terrestrial Broadcasting standard. The standard, also known by its acronym DMB-TH (Digital Multimedia/TV Broadcasting - Terrestrial/Handheld), will enable digital television broadcasts of the 2008 Olympics, which China is hosting in Beijing.
Legend has participated in the development of the core technology to bring digital TV to the Chinese market with Tsinghua University in Beijing, said Lin Yang, chairman and chief technology officer of the company, in a prepared statement.
Intel Capital has invested $6 billion in companies worldwide since 1991.
Also Wednesday, Intel Capital announced the appointment of Sudheer Kuppam to the role of managing director for India, Japan, Australia and Southeast Asia. He will be based in Bangalore, India. Kuppam will be responsible for leading Intel Capital's investment strategies and expansion plans, including placement of a $250 million Intel Capital India Technology Fund.