Unicorn Investment Bank Acquires 75% Equity Stake in Open-Silicon
December 24, 2007 -- Unicorn Investment Bank has announced the investment of $190 million to Acquire a 75% equity stake in Open-Silicon, Inc., a market leader in chip design and outsourced manufacturing services. Unicorn is partnering with Open-Silicon’s senior management team to fulfill the company’s next phase of growth, which includes global expansion.
Commenting on the acquisition, Aamir Khan, Managing Director of Global Private Equity at Unicorn, said, “Unicorn has been following developments at Open-Silicon with interest for several years. The company has managed to build a differentiated and successful business model and is a clear market leader in the fabless space. We believe that semi-conductors will be the cement of future technological infrastructure growth. We look forward to working with Open-Silicon’s highly experienced and respected management team to support the company’s future global growth.”
Open-Silicon currently has a presence in six locations in the US, the United Kingdom, India and Taiwan as well as manufacturing partners in Taiwan, Korea and China and a testing facility in Malaysia. The company’s planned expansion strategy combines growth both within its core US market and internationally where it plans to establish new design centers and material sourcing operations. Furthermore, the company plans to target synergistic acquisition opportunities.
Dr. Naveed Sherwani, Co-Founder, CEO and President of Open-Silicon, commented: “We are delighted to partner with Unicorn to fulfill our business plan and future growth strategies. Open-Silicon has established a solid reputation for providing cost-effective, predictable and reliable custom microchip solutions, and our partnership with Unicorn will help support the next phase of growth.”
Reprinted from SOCcentral.com, your first stop for ASIC, FPGA, EDA, and IP news and design information.