Intel Capital, the US chipmaker’s corporate VC arm, has invested an undisclosed amount of expansion capital in Zinitix, a South Korean developer of touchscreen controller technology for mobile devices. Zinitix will allocate the funds towards product development, market expansion, and to help further boost the company’s expertise and resources in support of rapid business growth throughout 2013.
The deal marks a new investment in Zinitix for Intel Capital, which is strategic to Intel Corporation’s recently launched range of new products, ecosystem and enabling efforts that will further accelerate the company’s presence in mobile and richer experiences with Intel Inside, said the corporate venture arm in a statement. Founded in 2000, Zinitix specializes in various SoC semiconductors based on its own Microcontroller (MCU) core technology. Zinitix customers include LG Electronics, Daewoo, Humax and Inkel.
However, Zinitix is the second touchscreen controller technology company to be added to the Asia Pacific portfolio, following Intel Capital’s investment in Taiwan-based eGalax eMPIA Technology (EETI).
“With more and more consumer devices becoming touch enabled, the touch controller integrated circuit market is currently experiencing massive growth, aided by the booming smartphone and tablet market,” said Sudheer Kuppam, managing director at Intel Capital Asia Pacific. “Intel Capital’s investment in Zinitix puts us firmly at the forefront of uncovering the latest and the most innovative technologies to deliver better user experience for touch enabled devices.”
Jack Han, one of two Intel Capital investment Directors based in Seoul, is the investment manager of Zinitix. Han joined the firm from Samsung Group where he was formerly head of IT investment for the corporate strategic investment arm.
Since its first investment in Korea in1998, Intel Capital has invested over US$200m in more than 30 Korean technology companies, in a variety of industries including mobile computing, digital media, consumer internet and semiconductor design and manufacturing. Several of these companies have gone public or have been acquired, including Integrant Technologies, Mobile Top, Xener Systems and CrucialTec.