SVTC Technologies, a leading
provider of development and commercialization services for silicon-based technologies,
announced that the company has raised an additional $34 million from its existing
investors, Oak Hill Capital Partners and Tallwood Venture Capital.
The investment coincides with the two-year anniversary of SVTC’s emergence
as an independent, privately owned enterprise. The Company has expanded its
services from semiconductor development to new areas that include prototyping
and low-volume production of advanced structures for MEMS and high-voltage analog
devices, photovoltaic applications for the solar industry and analytical services
for multiple high-tech industries.
“The Company is pleased with the support and confidence of its existing
investors as we expand the SVTC concept to provide a wider variety of technical
service solutions for our customers,” said Joseph Bronson, SVTC’s
CEO. “SVTC’s outsourced development services model gives device
manufacturers the opportunity to convert fixed costs into variable costs, avoid
significant capital expenditures and ultimately strengthen their balance sheets.”
He added that the new funding also positions SVTC well for additional expansion
that will allow the company to support customer interests in analog technology,
bio-devices and optical components.
Luis Arzubi, a partner at Tallwood Venture Capital, stated, “Our goal
at SVTC is to commercialize new and more efficient devices by enabling large
enterprises and entrepreneurs alike to develop the next generation of technology
solutions in a cost effective, IP-secure environment.”
“We believe that SVTC’s suite of services represents a compelling
value proposition in the current environment as semiconductor innovators look
to reduce their development and low-volume production costs,” said Robert
Morse, a partner at Oak Hill Capital. “The investment reflects our continued
commitment to and confidence in SVTC’s management team and business model.”
Oak Hill Capital Partners is a private equity firm with more than $8 billion
in committed capital. Tallwood Venture Capital, a Silicon Valley venture capital
firm, invests exclusively in semiconductor and chip-related technologies.
Posted May 6th, 2009
