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Asetek, the market leader of thermal management solutions for semiconductors, announced today the investment of $4 million following the investment of $5 million closed last year.
Asetek, the market leader of thermal management solutions for semiconductors, announced todaythe investment of $4 million following the investment of $5 million closed last year. Northzone Ventures, Vaekstfonden, KT Venture Group, and a group of private investors participated in the round. | Asetek is the leading thermal management solution provider in the high performance, low noise and next generation mainstream chip cooling markets sporting international brands such as VapoChill® and WaterChill™.
| “As a part of a long term OEM strategy that we started implementing a year ago, I am happy that we have achieved the required milestones to get the 2nd tranche of the investment we received last year. During 2006 we have reached significant milestones such as finalizing product development, starting up a U.S. branch office, almost doubling the number of employees in our professional and committed team, signing up with leading Asian contract manufacturers, and I am proud to say that we will soon announce our first design wins with leading OEMs,” said André S. Eriksen, founder and CEO of Asetek.
| “This follow-up investment will enable us to achieve the business success that our technology innovation and market demand warrants, and 2007 will be all about product roll-out and getting design wins in various segments. In addition the investment allows us to continue our globalization, and we will soon open branch offices in Taipei and Hong Kong,” Mr. Eriksen continued and concluded by stating that Asetek will hire 10 new employees within Europe, US and Asia in the next few months.
| Thermal management is more important than ever: with the arrival of native 4, 8 and 16-core CPUs, multi-CPU motherboards, rapidly increasing graphics chip power, increasing end-user demand for smaller form factors/lower acoustic emission, and finally datacenters that are struggling with cooling and density problems. Asetek has different state-of-the-art solutions to ease this increasing pain.
| ”During 2007 I expect Asetek to engage in partnerships that enabled by Asetek’s thermal solutions will develop innovative new product concepts in terms of form factors, solution designs and performance,” said Gregers Kronborg, Chairman of Asetek and General Partner with Northzone Ventures. “Asetek will make the thermal solution an enabling design parameter to be considered strategically up front rather than a necessary evil fitted at the back end.”
| “Efficient chip-cooling can no longer be provided by inexpensive ‘off the shelf’ single components. In the future optimized chip-cooling solutions will be an integral and important part of the system design process. To meet future requirements in advanced chip-cooling, Asetek's liquid cooling solutions are based on know how from different disciplines like thermodynamics, acoustics, fluid & air flow dynamics, mechanics, and material science. The current investment will help to cement Asetek as one of the most promising suppliers of integrated cooling solutions in the global marketplace," says Jimmy Fussing Nielsen, head of Vaekstfonden Technology Ventures.
| FOR FURTHER INFORMATION
About Asetek
Founded by André Sloth Eriksen in 2000 Asetek is a world leading thermal management solution provider of vapor phase, vapor chamber and liquid-cooling solutions. These solutions are designed for OEM integration, servers/datacenters PC enthusiasts, gamers, and professionals who demand exceptional performance, maximum reliability and low noise. Asetek is headquartered near Aalborg in the Northern part of Denmark. For more information, please visit www.asetek.com.
Contact: André Sloth Eriksen at +45 96 45 00 47 or
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| Northzone Ventures is a leading Nordic technology venture capital firm. The firm has 9 general partners located in offices in Copenhagen, Oslo, and Stockholm, and has invested in more than 50 companies across Scandinavia, since it was founded in 1996. Northzone manages € 325 million in capital commitments in five funds from leading international private equity investors. For more information please visit www.northzone.com.
Contact: Gregers Kronborg at +45 70 222 475 or kronborg at northzone dot com.
| About Vaekstfonden
With a capital base exceeding €300 million and an active portfolio of 75 venture investments, 120 mezzanine loans, 10 venture fund investments, and 1,000 loan guarantees, Vaekstfonden is the largest early stage investor in Denmark. Vaekstfonden is backed by the Danish Government and operates independently in the capital market. Vaekstfonden is located in Copenhagen, Denmark. For more information please visit www.vf.dk.
Contact: Jimmy Fussing Nielsen at +45 35 29 86 00 or jfn at vf dot dk.
| About KT Venture Group
KT Venture Group is the investment partner of KLA-Tencor, a leader of process control and yield management solutions. Headquartered in San Jose, the venture capital group focuses on companies with disruptive technology in semiconductors, life sciences, and other related information technology. The group combines the private VC-like structure and execution with unique corporate VC benefits. For more information please visit www.ktventuregroup.com.
Contact: Stefano Concina at +1 408 875 5003 or concina at ktventuregroup dot com. |
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