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Icera Secures $45m Financing to Accelerate Growth

May 19, 2010

BRISTOL, England, May 19, 2010 /PRNewswire/ — Icera Inc., the mobile
broadband semiconductor company, today announced that its investors have
provided a further $45M in equity capital to accelerate the growth of its
market share. All existing preferred shareholders, including Accel Ventures,
Amadeus Capital Partners, Atlas Venture, Balderton Capital and DFJ Esprit,
participated fully in the funding round.

Icera is continuing to extend its global market share for chipsets used
in high performance, high speed mobile broadband devices, such as USB modem
sticks and embedded modules for notebooks, netbooks, tablets and other
emerging devices. The new financing will also provide additional funding for
the Company’s expansion into the fast growing smartphone market.

Stan Boland, President & CEO, Icera Inc, said: “We are delighted to
attract additional equity financing for our business. It comes at a time when
we are achieving strong endorsement from mobile network operators and a sharp
growth in our shipments to the world’s largest device manufacturers. The new
funding will allow us to expand our customer-facing engineering support and
accelerate the dates we propel our technology into the fast-growing
smartphone market. Here, our advanced receiver technologies will bring real
user gains whilst materially reducing network operators’ cost of service
delivery.”

Kevin Comolli, Managing General Partner at Accel Partners, said: “We’re
impressed with Icera’s strong revenue growth, the diversification of its
customer base as it delivers this growth and its continued technology and
performance leadership, ensuring its products are strongly differentiated in
very large end-markets.”

Icera’s Adaptive Wireless(TM) modem technology is focused today on 3G
(HSPA+, HSPA) and 2G (GSM, GPRS, EDGE) cellular voice and data modem chipsets
and firmware, with 4G (LTE) scheduled in the near future. Adaptive
Wireless(TM) executes the entire modem in software on a new Icera high
performance processor.

About Icera

Icera is a fabless semiconductor company, pioneering high performance,
low power, soft modem chipsets for the fast growing mobile broadband device
market. Icera technology delivers the highest performance modem solutions for
USB dongles, laptops, netbooks and smartphones. Founded in 2002, Icera is
headquartered in the UK, with design locations in the UK, France, USA and
China, with customer engineering and sales offices in Europe, Asia and the
USA. For more information, visit the Icera web site at
http://www.icerasemi.com.

SOURCE Icera


Source: newswire



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