PRESS RELEASE
Global Communication Semiconductors, Inc. (GCS) Secures
$10 Million of Financing in Second Closing
March 20, 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 an additional $10M, closing out its Series
D equity funding round for a total of $27.5M. The investors in this
closing were Sirenza Microdevices, Inc and KLM Capital Group. This
follows a $17.5M funding in Series D announced by GCS on January 10
2002, led by TCW/YFY Investment Partners, LTD.
"This additional $10M further proves the
validity of our pure-play foundry business model and will further
ensure a successful path for GCS to reach profitability," said
Dr. S.K. (Dave) Wang, COO and acting President and CEO of GCS.
"We are very pleased to have the participation of Sirenza and
KLM. Sirenza is a leading-edge RF components supplier, whose fabless
operating model expertise drives us to improve our baseline and
advanced process technologies. KLM, and its chairman Don Brooks
whose past experience includes directing the world’s leading
silicon foundries as TSMC’s president and UMC’s co-CEO, will
provide us invaluable counsel as we continue our growth as a
pure-play semiconductor foundry," continued Dr. Wang.
"We’re pleased to join other strategic
investors in funding the growth of GCS as a leading-edge foundry for
RF components," said Robert Van Buskirk, President and CEO of
Sirenza Microdevices, Inc. "GCS supports our fabless operating
model by providing Sirenza a source for advanced process
technologies while retaining its pure-play foundry model. Our joint
support for advanced compound semiconductor technologies and our
complementary business models help to strengthen Sirenza’s
leadership across a broad spectrum of products for both wireless and
broadband wireline market," continued Van Buskirk.
"A III-V compound semiconductor foundry
industry can now be supported since the fabrication processes are
becoming standardized and market volume needs have reached critical
mass," said Don Brooks. "Like silicon in the early 90's we
will see growth in III-V foundries fueled by new fabless design
companies. We believe GCS is at the forefront with leading
technology," continued Brooks.
About Sirenza Microdevices, Inc.
Sirenza Microdevices, Inc., an ISO 9002-certified
manufacturer headquartered in Sunnyvale, California, with design
centers throughout the U.S. and Canada, is a leading supplier of
high-performance RF components for the wireless and wireline
telecommunications markets. The company’s products include power
modules, low-noise amplifiers, high-linearity gain blocks,
high-performance transistors, modulators, switches, mixers,
upconverters and downconverters, and high-performance
multi-component modules (MCMs) for transmit and receive
applications. Product information may be found on Sirenza’s
website at www.sirenza.com.
About KLM Capital Group
KLM Capital, a global technology venture partner, focuses on
early stage investments in the communications, information
technology and semiconductor industries and maintains offices in
Silicon Valley, Austin and Hong Kong. For more information, visit
KLM's website at www.klmtech.com.
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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