Newport Media Receives $10,000,000 New Funding Round

  • Feed Type
  • Date
    12/19/2012
  • Company Name
    Newport Media
  • Mailing Address
    1 Spectrum Pointe Dr. Lake Forest, CA 92630
  • Company Description
    Newport Media is a fabless semiconductor company that develops and sells highly integrated solutions for emerging digital audio and mobile TV broadcasts standards. Market research firm In-Stat forecasts that the market for TV enabled cellular phones will grow to over 80 million units annually by 2010. To optimally address this and other significant market opportunities, Newport Media has assembled a management and development team with comprehensive system semiconductor experience in wireless handset and digital set-top box industries. Newport Media’s development team leverages its collective experience in these converging industries to develop broadcast multi-media architectures and IC implementations with unprecedented performance, power consumption, size and cost. Newport Media is a member of all major mobile TV industry forums and is an active participant in the international standardization process.
  • Website
    http://www.newportmediainc.com
  • Transaction Type
    Debt
  • Transaction Amount
    $10,000,000
  • Transaction Round
    Undisclosed
  • Proceeds Purposes
    Under the terms of the venture loan, Horizon provided $7 million to Newport Media and Bridge Bank provided $3 million. Newport Media will use the funds to support its growth.
  • M&A Terms
  • Venture Investor
    Horizon Technology Finance
  • Venture Investor
    Bridge Bank