Maxim Integrated Launches Corporate Venture Group to Invest in Startups and Innovative Technologies
SAN JOSE, Calif., Sept. 12, 2012 /PRNewswire/ -- Maxim Integrated Products, Inc. (NASDAQ: MXIM) announced today it has established a Corporate Venture Group to invest in startup companies and innovative technologies.
Through the new Corporate Venture Group, Maxim will make strategic investments to seed technologies aligning with the company's focus areas, products, and initiatives, and facilitate partnering for Maxim's business units with smaller companies.
Focusing on technology for markets including automotive, industrial, mobility and communications, Maxim's Corporate Venture Group will provide partner companies with financial capital for growth and expansion as well as the opportunity to collaborate with Maxim on mutually beneficial products and technologies. The goal is to further Maxim as the leader in key markets while enhancing its business model, which balances high-growth markets (e.g. mobility and computing) with stable markets (e.g. industrial and communications).
"Investments made through our new Corporate Venture Group effectively augment our successful, home-grown technology solutions and those we incorporate through acquisitions," said Tunc Doluca, Maxim President and Chief Executive Officer. "These investments will also build upon our current technology strengths, allowing for diversification into emerging markets."
Maxim's Corporate Venture Group will be led by Yoon Choi, Venture Investment Lead. Prior to joining Maxim, Yoon was actively involved in the venture capital community. Most recently, she worked at Samsung Ventures, where she was actively involved in business development, sourcing of strategic investment opportunities and the financial and business analysis of venture transactions. Prior to Samsung Ventures, Yoon worked at PricewaterhouseCoopers and startup companies.
Maxim's Corporate Venture Group is an integral part of the company's Corporate Business Development Group, which focuses on mergers and acquisitions, strategic alliances, investments and divestitures. For more information, visit: http://www.maximintegrated.com/venturegroup
Maxim is a leader in analog innovation and integration, unique among semiconductor companies in the range of disparate analog functions that it can combine onto a single chip. The company's highly integrated solutions help customers create systems that are smaller and more energy efficient.
About Maxim Integrated
At Maxim Integrated, we put analog together in a way that sets our customers apart. In Fiscal 2012, we reported revenues of $2.4 billion.
LuAnn Jenkins Walden
SOURCE Maxim Integrated Products, Inc.