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Vivace Semicon acquires China's General Circuits

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

Keywords:Vivace Semiconductor? General Circuits? acquisition? buy-out?

Fabless IC company Vivace Semiconductor has acquired General Circuits Ltd (GCI) of Beijing, China. Now named Vivace China, the Vivace's acquisition will focus on the market opportunity in China and the whole of Asia Pacific for video-based consumer electronics.

"This acquisition enables us to become a direct supplier into the world's largest consumer electronics industry," said Cary Ussery, president and CEO of Vivace. "With the addition of GCI's relationships and development team, we are optimized for rapid adoption and deployment in China and the full APAC market."

Kodiak Venture Partners as well as Shanghai-based Dragonvest Partners supported the transaction by a $7.5 million Series A round of equity financing.

Dave Furneaux, founder and managing general partner of Kodiak Venture Partners will join Dave French, CEO of Cirrus Logic, and Cary Ussery, founder of Vivace, on the Vivace board of directors. "We look forward to working with Vivace and Dragonvest to realize the immense market opportunity in China," he said.

The acquisition is expected to enhance Vivace's ability to sell into China and the APAC region as well as leverage the range of government-backed initiatives designed to accelerate growth of the mobile TV and video electronics market, and infrastructure in China.

"The Vivace platform can truly enable the China consumer electronics industry to deliver a total portable entertainment solution never before seen," said Xu Xiatian, secretary general for the China Semiconductor Industry Association.

The acquisition adds a team of 45 engineers to Vivace's design and development effort who will work with Vivace's U.S.-based team to implement, customize and expand the company's technology roadmap.

GCI co-founders Weixin Ni and Jin Luo will head the Vivace team in China: Ni will become the vice president of China operations, Luo will serve as vice president of China R&D operations for Vivace China. Cary Ussery, Vivace's founder, president and CEO will retain his position in the new entity.

"Vivace has a management team with deep consumer systems experience and an innovative and proprietary technology, and this acquisition further improves the company's ability to execute its Chinese market strategy," said Furneaux.

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