Sunnyvale, CA - July 11, 2007 -VirtualLogix™, Inc., the Real-Time Virtualization™ company, today announced that it has secured $16 Million in Series B financing. This funding includes participation from new investors, Esprit Capital Partners, who led the round, and Intel Capital. Current investors, Atlas Venture and Index Ventures also contributed to the Series B funding.
The funding will be used primarily to accelerate the company's global growth strategy and develop the next generation of VirtualLogix's real-time virtualization software solutions.
"VirtualLogix is pioneering the application of virtualization for embedded real-time connected devices," said Peter Richards, CEO of VirtualLogix. "This additional financing confirms the potential that investors see in the market, our leadership team and our technology. We look forward to working with our investors and partners to accelerate the next phase of the company's growth and leadership in real-time virtualization."
"We are very excited to be backing VirtualLogix and are very impressed by the progress that the company has made to date," said Tom Bradley, partner at Esprit Capital Partners. "We believe that the company's focused strategy, its unique technology and strong management team provide a robust foundation for its future success. We look forward to working together with its management team to grow the business to the next level."
VirtualLogix has experienced strong momentum in initial vertical market segments that include digital multimedia, network infrastructure and mobile handsets. The company works closely with leading semiconductor companies like ARM, Intel, NXP and Texas Instruments to bring its solutions to device manufacturers. The company has recently expanded its presence in Asia.
VirtualLogix's VLX software enables multiple operating systems to run concurrently on shared hardware, while maintaining the hard real-time and high throughput requirements prevalent in connected devices. Using VLX, customers are able to lower bill of materials, improve security and reliability, while speeding time to market by utilizing the best of both proprietary and open source software.
As part of the investment, Tom Bradley, partner at Esprit Capital Partners, will join the Board of VirtualLogix and John Mascarenas, from Intel Capital, will join the Board as an Observer. VirtualLogix has raised a total of 28 million dollars to date with investors that include Atlas Venture, Cisco Systems, Esprit Capital Partners, Intel Capital and Index Ventures.
About Esprit Capital Partners
Esprit Capital Partners ("Esprit") is a top-tier, technology venture capital firm. The Esprit team has invested in many of Europe's most successful venture exits of recent years with recent successes including KVS, Alphamosaic, Fillfactory, DRI, Blackspider, and Neteconomy. Over the last 16 months, Esprit has been one of the most active investors in the market, making 23 investments in this period including Buy.at, Tagsys RFID, Lagan Technologies, Xanadu Wireless, DisplayLink Corp, WAYN.com and Tribold. Esprit has over US$500 million of assets under management and has offices in London and Cambridge, UK. For further information, please visit www.espritcp.com
About VirtualLogix, Inc.
VirtualLogix™, Inc. is the global leader in Real-Time Virtualization™ technology for connected devices. VirtualLogix VLX enables multiple operating system environments to run concurrently on shared hardware and provides a range of performance, fault tolerance and security options to address specific market requirements. As a result, the world's largest semiconductor companies, manufacturers, OEMs and carriers are able to reduce development and bill of material costs, improve time to market by leveraging existing software investments, and create conditions that meet their business goals. With more than 20 years of experience developing system software for network infrastructure, digital multimedia and mobile handsets, VirtualLogix is paving the way for the development of next generation connected devices.
VirtualLogix, Inc. is headquartered in Sunnyvale, Calif. with operations worldwide. For more information, visit www.virtuallogix.com or call 408.954.7350, or +33 1 39 44 74 00.
About Intel Capital
Intel Capital, Intel's venture capital organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software and services targeting enterprise, home, mobility, health, consumer Internet and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$6 billion in nearly 1,000 companies in more than 40 countries. In that time, about 180 portfolio companies have been acquired by other companies and another 155 have gone public on various exchanges around the world. In 2006, Intel Capital invested about US$1.07 billion in 163 deals with approximately 60 percent of funds (excluding Clearwire) invested outside the United States. For more information on Intel Capital and its differentiated advantages, visit www.intel.com/capital.
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