Intellon Corporation Raises US$24.5 Million in Financing
Ocala, Florida (ots/PRNewswire)
- BCE Capital, Goldman, Sachs & Co., Intel and Motorola Are New Investors in Powerline Communications Technology Leader
Intellon Corporation, the leading provider of HomePlug-compatible IC's for home networking, networked entertainment and connected powerline applications, today announced it has raised US$24.5 million in new equity financing. The investment was led by BCE Capital, which is affiliated with Bell Canada, Canada's largest communications company. BCE Capital, Goldman, Sachs & Co., Intel Capital and Motorola Ventures joined existing investors Comcast Interactive Capital, Duchossois TECnology Partners, EnerTech Capital, Fidelity Ventures, Hydro-Quebec CapiTech, Liberty Associated Partners, LP, Philips Venture Capital Fund, TL Ventures and UMC Capital Corporation in the financing round.
Intellon will use the new funds to continue its growth and accelerate the deployment of its next generation HomePlug(R) AV compatible integrated circuits (ICs). Building on the company's existing line of HomePlug 1.0 compatible ICs that are already being used on six continents for home networking, broadband over powerline (BPL) and commercial applications, Intellon's HomePlug AV ICs will enable whole-house distribution of high definition video and digital audio over existing home electrical wiring and coaxial cable, with robust quality of service and tight control of latency and jitter.
"This new round of funding will help Intellon capitalize on the continuing growth of the powerline communications market," said Charlie Harris, chairman and chief executive officer of Intellon. "We are pleased to add BCE Capital, Goldman Sachs, Intel Capital and Motorola Ventures as new investors in Intellon."
About BCE Capital:
BCE Capital is a leading Canadian venture capital firm. Founded in 1987, the firm has built a track record of investing in and developing some of the most successful emerging growth communications and information technology companies in North America. BCE Capital has backed over 40 management teams, and has seen several of them through IPOs and acquisitions. Currently, the firm is investing in Fund IV, a US$200 million fund focusing on early-stage communications and IT companies.
BCE Capital is affiliated with Bell Canada Enterprises (BCE), Canada's largest communications company. Through its main subsidiary Bell Canada, BCE provides local telephone, long distance, wireless communications, Internet access, data, satellite television and other services to residential and business customers through some 27 million customer connections ... For more information, visit http://www.bcecapital.com.
About Goldman Sachs
Goldman Sachs is a leading global investment banking, securities and investment management firm.
About Intel Capital
Intel Capital, Intel's venture investment program, focuses on making minority equity investments to grow the Internet economy in support of Intel's strategic interests. Intel Capital invests in hardware, software and services companies in several market segments, including computing, networking, and wireless communications. Intel Capital has invested more than US$4 billion in approximately 1,000 companies in more than 30 countries since 1991. Since its inception, about 160 portfolio companies have been acquired by other companies and another 150 have gone public on various exchanges around the world. Intel Capital employs investment managers in about 25 countries worldwide. Last year alone, Intel Capital invested more than US$130 million in about 110 deals with approximately 40 percent of its investments made outside the United States. For more information, visit http://www.intel.com/capital.
Abouut the Intel Digital Home Fun
The US$200 million Intel Digital Home Fund, one of Intel Capital's investment program initiatives, was established in January 2004. It targets companies developing hardware and software, as well as connectivity and supporting technologies that enable people to enjoy digital content -- including music, games, photos and video -- on multiple devices in the home and beyond.
About Motorola Ventures
Motorola Ventures (MV) is the global, strategic venture capital investment arm of Motorola, Inc. MV invests at all stages in developing companies of strategic value to Motorola in order to accelerate access to new technologies, new markets and new talent. For more information, visit http://www.motorola.com/ventures.
About Intello
Intellon is the world leader in standards-based integrated circuits for powerline communications, providing HomePlug(R) compliant and other powerline integrated circuits for home networking, networked entertainment, broadband over powerline (BPL) access and commercial applications. Intellon created and patented the baseline technology for HomePlug 1.0, and is a major contributor to the new 200-Mbps HomePlug AV powerline standard. With over two million HomePlug ICs sold, Intellon holds the dominant market share of the rapidly growing HomePlug market. The company was founded in 1989 and is headquartered in Ocala, Florida, with offices in San Jose and Toronto. For more information visit http://www.intellon.com.
Intellon is a registered trademark of Intellon Corporation. HomePlug is a registered trademark of the HomePlug Powerline Alliance, Inc. All other trademarks are the property of their respective owners.
Press Contacts:
Nancy Robbins Charlstie Laytin
Intellon Euro RSCG Magnet
+1-408-501-0320 +1-212-367-6830
nancy.robbins@intellon.com charlstie.laytin@eurorscg.com
Web site: http://www.intellon.com
http://www.bcecapital.com
http://www.motorola.com/venturesContact:
Nancy Robbins, +1-408-501-0320, nancy.robbins@intellon.com of
Intellon; or Charlstie Laytin, +1-212-367-6830,
charlstie.laytin@eurorscg.com of Euro RSCG Magnet