Semiconductor technology producer Freescale Semiconductor acquired US-based fabless semiconductor manufacturer Zenverge on Tuesday for an undisclosed sum, giving exits to investors including mobile device maker Motorola Mobility and telecommunications company Verizon.
Founded in 2005, Zenverge produces chips based around content networking integrated circuits, which bridge broadcast content to internet-enabled devices such as tablets, smartphones, game consoles and smart televisions.
The company had raised approximately $80m in total, according to SEC filings, most recently closing an $11m series E round in December featuring Verizon, Wells Fargo-backed venture capital firm Norwest Venture Partners, DCM, CID Group and Woodside Fund.
Other exiting backers are Motorola Mobility, which first invested in Zenverge’s $17.3m series B round in 2007, prior to Motorola’s split into two companies; fabless semiconductor company Entropic Communications; and VC firm Battery Ventures.
Geoff Lees, general manager of Freescale’s microcontroller product group, said: “Zenverge is a recognised leader in the secure optimisation, unification, storage and distribution of rich digital content.
“The company’s highly advanced technologies present growth opportunities for Freescale in new markets, while providing compelling and highly differentiated functionality for future generations of many popular Freescale product portfolios.”