PRESS RELEASE
Global
Communication Semiconductors, Inc. (GCS) Secures $17.5 Million in
Financing
January 10, 2002, TORRANCE, CALIF. - - - GCS,
Inc. (Global Communications Semiconductor, Inc.), a leading
pure-play III-V compound semiconductor foundry service provider,
announced today that it has raised $17.5M in Series D equity
funding. TCW/YFY Investment Partners, Ltd. led this round of
financing and was joined by several new and existing financial
investors, including the FIC group, Kwang Hua Investment Holding,
and SinoStar Capital.
"The strength of GCS’ technology and
proprietary world-class foundry process is evidenced by the
substantial backing of our new and existing investors," said
Dr. Owen K. Wu, CEO and President of GCS. "This round of
financing should see GCS through to profitability and an eventual
IPO. GCS will utilize these funds for the acquisition of tools to
further enhance technological and manufacturing capabilities
essential to our company’s success." Continued Dr. Wu.
T.J. Huang, President of TCW/YFY Investment
Partners, will join GCS’s board of directors. Huang said, "We
are very impressed with GCS’ proprietary technology, strong
management team, and diversified customer base. We believe rapid
technological advancements in wireless and networking IC
manufacturing creates strong demand for foundry services, and we are
confident that GCS will be the leading foundry in the III-V compound
arena." TCW/YFY manages US$710 million for cross-staged
investments in semiconductors, information technology and
communications in Asia and the US. It is a key investor in
semiconductor design firms and foundries, including WSMC in Taiwan,
merged by TSMC in 2001, and SMIC in China.
GCS has been qualified by four major customers as
an InGaP HBT production foundry. Its proprietary world-class InP HBT
(Indium Phosphide Heterojunction Bipolar Transistor) foundry process
supports 40Gb/sec data rates for OC-768 and PA’s (Power
Amplifiers) for 3G handsets and millimeter-wave frequency
transceivers. In the past month GCS has made significant progress in
their proprietary InP HBT foundry process and
InGaAs mesa PIN photodiode process for 1310 nm and 1550 nm
high-speed optical fiber communication applications.
Global
Communication Semiconductors Inc., based in Torrance, California, an
ISO 9002 certified company, provides compound semiconductor foundry
services to the wireless telecommunication and high-speed networking
industries. GCS currently offers foundry service for both InGaP and
InP HBT processes and provides optoelectronic foundry services for
PIN diodes used in the fiber optic communication market.
For
more information on GCS contact:
Bill
Vitez
Director
of Marketing and Sales
Global
Communication Semiconductors, Inc.
23600
Telo Avenue, Suite 118
Torrance,
CA 90505
Tel:
310-530-7274 x 714
Fax:
310-517-8201
Email:
bvitez@gcsincorp.com
Web
site: http://www.gcsincorp.com
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