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VeriSilicon funding used for ZSP acquisition

Posted: 10 Jul 2006 ?? ?Print Version ?Bookmark and Share

Keywords:VeriSilicon? acquisition? ZSP? DSP? LSI Logic?

VeriSilicon Holdings Co. Ltd, an ASIC design foundry, announced that it has raised $14.8 million in its Series C financing. VeriSilicon used the funding to finance the recent acquisition of ZSP, the DSP business unit of LSI Logic Corp. The Series C financing was co-led by Austin Ventures and Sierra Ventures.

As part of this funding, LSI Logic will also receive a certain number of VeriSilicon shares as part of the consideration for the ZSP acquisition. In addition, the investment will support VeriSilicon's expansion of its operations, sales and marketing, and engineering teams.

Founded in 2001, VeriSilicon has operational presence with active customer engagements in the United States, Taiwan, China, Japan and Europe.

"We view the combination of VeriSilicon and ZSP as a milestone for the company moving forward," said Ben Yu, managing director at Sierra Ventures, who also joins the VeriSilicon board. "ZSP's existing customer base will continue to enjoy the benefits of the licensable, open DSP IP platform, while being able to take advantage of VeriSilicon's silicon implementation and manufacturing capability. Similarly, VeriSilicon will be able to offer its customers application-specific building blocks based on ZSP."

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