Digital Mobile TV Leader Siano Raises $20m in Growth Round Led by JVP
NETANYA, Israel,
(http://www.siano-ms.com), the leading supplier of mobile digital TV receiver
chips, announced today that it has completed a
financing round. The round was led by leading Israeli venture capital fund,
Jerusalem Venture Partners (JVP). The proceeds of the current round will be
used for expanding the Company’s innovative product line as it extends its
geographic presence in the emerging North American mobile ATSC (Advanced
Television Systems Committee) market.
With approximately 50% market share in
chipsets that allow the reception of digital TV on mobile, portable and
hand-held devices, Siano is the de-facto leader of the digital mobile TV
market in these regions.
JVP, an investor in Siano since its inception, is a leading Israeli
venture capital fund, managing over
voted best venture capital firm in Israel and one of the top three in
by Private Equity Magazine.
“The whole concept of TV viewing is evolving,” said
Siano. “Today, TV consumers seek constant access to their favorite TV content
- irrespective of the medium, their location or device. As more and more
consumers use smartphones and tablets to watch their favorite content, our
technology is going to become increasingly important.”
“North American broadcasters are now preparing to deploy mobile ATSC,
and, with market experts estimating an installed base of roughly 70 million
tablets in the US within two years, the U.S. market serves as a natural
extension to our strong position in other markets. Over the last few weeks,
we have been finalizing our new line of innovative solutions to meet the
unique needs of the U.S. market, and the new funds will be used to implement
these plans,” added Ironi.
Directors as part of the round. “JVP has been an investor in Siano from its
inception through its present rapid growth phase,” said Tirosh. “The current
round is directly in line with our strategy of actively supporting our most
promising companies, as we build them into prominent international entities.
Over the last 4 years Siano has evolved into a major force in the digital
mobile TV space, taking the lead in both
the company’s expansion into the North American market as a major step in its
ongoing growth and diversification strategy.”
About Siano
Siano Mobile Silicon is one of the world’s leading providers of
cutting-edge digital TV receiver chips enabling mobile and home
entertainment. Pioneers of the multi-standard approach, Siano’s highly
integrated silicon receiver chips enable high-performance, fast
time-to-market digital TV solutions for handheld and consumer electronics
device makers. Siano offers a wide range of DTV receiver chips for various
markets across the globe and works closely with global tier-1 PC, mobile
handset, and home entertainment manufacturers, including Samsung, LG,
Motorola, ZTE, Huawei, Dell, Lenovo, Garmin and others. Siano provides
world-class products and dedicated customer support, with offices in
(
(Korea); and
http://www.siano-ms.com.
About JVP
JVP is a leading venture capital fund, headquartered in the JVP Media
Quarter in
Established in 1993, JVP manages over
venture capital funds, spearheading, in its seventeen years of activity, some
of Israel’s largest exits. Most recently, JVP’s portfolio company QLIK
Technologies (NASDAQ: QLIK,
of the most successful IPOs of 2010. The JVP Media Quarter is home to 12 of
JVP’s portfolio companies, the Fund’s early stage incubator, JVP Media Labs,
which invests in early stage media companies targeting fields such as: Web,
mobile, advertising, gaming as well as enterprise software. The JVP Media
Quarter is also home JVP’s Community activities: The Lab, the Center for
Performing Arts, and “Bakehila” the youth empowerment program supporting up
to 3,000 youngsters in 5 underprivileged
additional information please visit: http://www.jvpvc.com
Press Contact
Ruder Finn Israel for Siano
Matthew Krieger
+972-544-676-950
matthew@ruderfinn.co.il
SOURCE Siano Mobile Silicon