 |
Comcast Interactive Capital Invests in BroadLogic
$17 Million Investment led by Comcast Interactive Capital, and
including Advance/Newhouse Validates BroadLogic’s Market-Changing
Technology
SAN JOSE, Calif.
June 15, 2007
BroadLogic Network Technologies, a leading provider
of silicon solutions for broadband networks, today announced it
has completed a strategic round of financing led by Comcast Interactive
Capital, with Advance/Newhouse also joining as a new investor. Key
existing investors, including Time Warner Investments, Rho Ventures,
Cisco, Levensohn Venture Partners, Walden International, Presidio
and Intel, continued their support by also participating in the
financing round. The $17 million total investment will be used to
accelerate BroadLogic’s pace of innovation and expand deployment
activities across a variety of applications in the network.
In addition
to leading the round, Comcast Interactive Capital has joined BroadLogic’s board of directors, where it will assist
the company in addressing cable and service provider market opportunities
for the company’s TeraPIX™ video processor and Wideband
Receiver™ product lines.
“BroadLogic’s innovative chipsets recover bandwidth
for cable operators and enhance platforms ranging from network infrastructure
to gateway devices in the MDU (multi dwelling unit) and home,” said
Louis Toth, Managing Director, Comcast Interactive Capital, and
the newest BroadLogic board member. “We believe the potential
for these technologies extends beyond the current products and offers
the industry a path to a future generation of revenue-generating
applications.”
Consumer appetite for multi-play broadband services,
including video, voice, and data, continues to grow, and BroadLogic’s
cost-effective technologies enable multiple service operators (MSOs)
to keep pace with subscriber demand by utilizing BroadLogic based
solutions across applications in the network. Investment in BroadLogic
reflects the increasing opportunities in the broadband industry
and recognition that competitiveness depends on accommodating more
consumer choice, and that in turn depends on increasing bandwidth.
“Demand for additional bandwidth to the home is growing rapidly,
as the number of HD channels multiply and as we scale our networks
to provide ultra-high-speed internet access,” said Nomi Bergman,
Executive Vice President of Strategy and Development, Advance/Newhouse
Communications, manager of the nation’s sixth-largest cable
operator Bright House Networks. “BroadLogic’s technology
provides operators a competitive advantage because it enables today’s
HFC network to deliver much higher bandwidth in a subscriber-friendly
and cost-effective way.”
“We are thrilled to welcome Comcast and Advance/Newhouse
as our newest investors,” said Danial Faizullabhoy, president
and CEO of BroadLogic. “Consumer demand and industry competition
have made our broadband solutions compelling today, and we are working
with leading manufacturers toward rapid commercial deployments.”
About
Comcast Interactive Capital
Comcast Interactive Capital (CIC) is a venture capital fund
focused on broadband, enterprise and interactive technologies.
CIC is
affiliated with Comcast Corporation, a diversified global leader
in cable, broadband services, telecommunications and entertainment.
CIC's primary goal is to generate superior financial returns
from private equity investments in early-stage technology companies.
To achieve this goal, CIC works to foster the success of its
portfolio
companies by bringing to bear the unique resources, experience,
and insight of both CIC and the Comcast family of companies.
Additional information is available at www.civentures.com.
About
Advance/Newhouse Communications
Advance/Newhouse manages Bright House Networks, the nation’s
6th largest cable operator, serving over 2.2 million subscribers
in cable television systems located in and around Tampa Bay, Central
Florida, Indianapolis, Birmingham, Bakersfield and Detroit along
with several smaller systems in Alabama and panhandle Florida. Advance/Newhouse
is a privately held company headquartered in Syracuse, New York.
The Advance/Newhouse partners’ other interests include Condé Nast
magazines, PARADE magazine, daily newspapers serving 26 cities,
American City Business Journals, which publishes business journals
in over 40 cities, Advance Internet and CondéNet, producers
of online services, and a significant interest in Discovery Communications,
Inc.
About BroadLogic
Headquartered in San Jose, California, BroadLogic designs and
supplies breakthrough video-processing technologies that enable
broadband
network operators to maintain their competitive edge by offering
next-generation video-on-demand, digital-video, voice, and high-speed
data services to more consumers. BroadLogic’s patented technologies
power devices that simultaneously process an order of magnitude
more video content than conventional approaches, helping operators
maximize revenue gains while controlling operational and capital
expenditures.
|
 |
|