YOKNE'AM, Israel--(BUSINESS WIRE)--July 31, 2003-- Oplus to expand development, sales and marketing of its innovative display and video processor ICs for flat panel displays
Oplus Technologies, Inc., a leading provider of innovative systems-on-chip and software solutions for digital displays and flat panel TVs, today announced that it has secured a $10 million investment round.
Venture capital firms Benchmark Capital and BRM Capital led the round, with Giza Venture Capital participating. The funding is earmarked for increased R&D and expanded sales and marketing activities, and to enable Oplus to open offices in Asia and the US.
Oplus' Rembrandt(TM) and Matisse(TM) ICs, which represent the industry standard for image quality and functionality, power numerous award-winning Plasma displays, LCD-TVs and digital projectors of leading manufacturers. Over the coming months, the company is set to launch a line of new products targeting the fast-growing flat panel TV market. It is also developing next generation solutions for integrated Digital TVs and networked displays.
"The success of this funding round is a critical milestone for Oplus Technologies," said Dr. Yair Alpern, CEO of Oplus Technologies. "We are very pleased that these leading investment firms have chosen to join our team and to share in our ongoing success."
Menashe Ezra, Managing Director of BRM Capital, commented: "We believe that the digital display market is poised for significant growth over the coming years. Oplus Technologies has excellent potential for becoming a key player, and we look forward to working with them and our fellow investors to help grow the company and make the most of this expanding market opportunity."
David Mentley, Senior Vice President at iSuppli/Stanford Resources, added: "Digital TV is the brightest star in the consumer electronics business and it is being driven by LCD flat panel TV (111% annual growth), Plasma (125% growth) and digital rear projection TV (61% growth). While the world waits for HDTV broadcasting to find its place, companies like Oplus are already supplying de-interlacers and image processors that deliver near-HD quality from sources we all access right now."
About Oplus Technologies
Oplus Technologies Inc. is a privately held, fabless semiconductor company that designs, develops and markets integrated circuit and software solutions for flat panel Plasma and LCD displays, TVs, projection systems, LCD monitors and emerging digital display applications. Oplus' feature-enhanced products use its proprietary "Display to Perfection(TM)" advanced video and image processing technologies and address the most demanding digital display applications. Oplus Technologies is headquartered in Yokne'am, Israel and has distribution and support channels in all major markets. Further information is available at www.oplus.com.
About Benchmark Capital
Benchmark Capital was founded in 1995 to help talented entrepreneurs build great technology companies. Benchmark's partners take a team-oriented, labor-intensive approach to venture investing to deliver a superior level of service to the firm's portfolio companies. Benchmark's portfolio includes franchise companies such as Ariba (Nasdaq: ARBA), eBay (Nasdaq: EBAY), Juniper Networks (Nasdaq: JNPR) and Red Hat (Nasdaq: RHAT). Managing more than $2 billion in committed venture capital, Benchmark focuses on investing in entrepreneurs with original ideas. For more information on Benchmark, visit its web site at www.benchmark.com.
About BRM Capital
BRM Capital ( www.brm.com ) is a venture capital fund that focuses on early stage through expansion investments in firms in the fields of software, communications and components. The firm concentrates its investment activities on companies that are Israeli related. Its executive offices are located in New Jersey with representatives in Israel. The companies in which BRM has invested include Check Point (Nasdaq: CHKP), Back Web (Nasdaq: BWEB), ProSight, Whale, Percite, Schema, Invoke Solutions and Passave Technologies. The assets managed by BRM total about $250 million.
About Giza Venture Capital
Giza Venture Capital was established in 1992 and has three funds totaling $316 million. Giza has invested in 68 early to late-stage companies in the sectors of Communications, IT and Life Sciences, with 21 exits, including: Precise (NASDAQ:PRSE), Oridion (SWX:ORIDN), Butterfly, Libit , Scorpio, M-Systems (NASDAQ:FLSH), Zoran (NASDAQ:ZRAN), DSPC and X Technologies. Giza is distinguished by its professional expertise, extensive management experience and is backed by leading international investors from USA, Europe, Asia and Israel, which include: GE Equity, NIB Capital, Deutsche Banc Alex Brown, Credit Suisse Asset Management, Bessemer Trust, GIC, Temasek, Bank Hapoalim and Bank Leumi. Giza is headquartered in Tel Aviv with offices in Tel Aviv, London, New York and Singapore. www.gizavc.com.
(C) 2003 Oplus Technologies, Ltd.
Oplus, the Oplus logo, Display to Perfection, the Art of Display, Rembrandt, and Matisse are trademarks of Oplus Technologies Ltd. and may be registered in certain jurisdictions. All other names and marks are the property of their respective owners.
Ron Dagan, +972-4-959-2288