SAN JOSE, Calif., May 8, 2018 /PRNewswire/ -- MegaChips Corporation, a global semiconductor company specializing in ASICs and Application Specific Standard Products (ASSPs), today announced it is the lead investor in a $10 million round in Israeli company Sckipio, a leader in Gfast products. MegaChips' strategic investment underscores the complementary partnership and will accelerate Gfast penetration globally, particularly in Japan. Intel Capital, Pitango Venture Partners, Genesis Partners, Gemini Israel Ventures, Amiti Ventures, Aviv Ventures, CIRTech Fund and Axess Ventures also invested in the $10 million round.
The investment expands on MegaChips' and Sckipio's existing six-year relationship, and MegaChips and Sckipio will cooperate in developing new solutions for new markets.
"Demand for Gfast products is ramping up quickly as consumers and businesses desire affordable, ultra-high-speed broadband solutions, and our partnership with Sckipio helps us drive these solutions to market quickly," said Akira Takata, MegaChips president and CEO. "This joint effort underscores our commitment to help enhance our customers' competitiveness and strengthens our mission in seeking to further expand our business and sustainable growth."
"Today's announcement represents an important and exciting step in our efforts to optimize our Gfast solution," said David Baum, CEO and co-founder at Sckipio. "Our joint partnership with MegaChips allows us to collaborate on our respective areas of expertise and helps us build on our recent momentum as we further position ourselves as a global leader in the quickly growing Gfast space. MegaChips' investment is a testament to the strength of our brand and the tremendous global opportunity ahead, including access to the Japanese market."
About MegaChips Corporation
MegaChips Corporation (1st section of the TSE (Tokyo Stock Exchange): 6875) was established in 1990 as the first innovative fabless semiconductor company in Japan. MegaChips exploits expertise in analog, digital and MEMS technology and globally provides LSIs and solutions that are crucial for advancing technology innovation.
Sckipio, the leader in Gfast, develops award-winning, standards-compliant Gfast modems used to enable ultra-broadband access and mobile backhaul. Sckipio partners with more than 30 companies globally on Gfast and is one of the leading contributors to the ITU-T standard. For more information about Sckipio, visit our website at www.sckipio.com. For more information, follow us on LinkedIn, SlideShare, and Twitter @SckipioTech.
SOURCE MegaChips Corporation