Mirics Closes $12M Funding With Investment From Acacia Capital Partners

Fleet, UK -- Mirics Semiconductor, a UK-based provider of solutions for the mobile broadcast receiver market, announced the addition of Acacia Capital Partners to its $12m second round of funding. Mirics closes the round with Acacia Capital Partners joining fellow investors Intel Capital and Pond Venture Partners. The funding will enable Mirics to build on its success over the last 12-months, accelerating product roll-out plans and strengthening its world class engineering team.

"Thanks to the additional investment from Acacia Capital Partners and the support of our existing investors, we now have the financial support and global commercial connections to drive the company forward and capitalize on our strong technology," explains Simon Atkinson, CEO, Mirics Semiconductor. "As well as helping us to accelerate the roll-out of our product roadmap and expand our talented engineering team, the additional investment will enable us to extend the reach of our commercial and customer support organisations. This will ensure that Mirics can provide the best possible support to the many leading technology companies we're already connecting with across Europe, the US and Asia."

"Addressing the technological challenges involved in the implementation of mobile audio and video is a key industry focus," comments Chris Smart, General Partner, Acacia Capital Partners. "Mirics has technological innovations which we believe can help the global market segment for broadcast-enabled mobile handsets and portable devices to evolve and reach its full potential over the next few years."

Mirics' FlexiMode technology enables reconfigurable RF devices with little or no penalty. This enables consumer products to be created for the world market, and can reduce the cost and size of multi-functional devices. Mirics' first product, the MSI001, is a "Universal Broadcast Tuner", enabling designers of mobile phones, PMPs, PNDs and other portable devices to add a single RF solution which implements the mobile broadcast standards in use worldwide.

During its investment round Mirics was advised by Matt Rogers from technology investment banking company GP Bullhound.

SOURCE: Mirics Semiconductor Inc.