Wireless communications semiconductor developer Celeno announced a collaboration with cable giant Liberty Global.
Celeno will provide wireless home telecommunications processors, as part of a project to offer video over IP to customers' homes. Liberty Global selected Celeno’s Wi-Fi solution to power its multimedia home gateway product.
The deal is expected to last several years, and to generate about $30-40 million per year for Celeno.
This is the second deal that Celeno has reported in recent months. About a month and a half ago, the company reported a deal with China Telecom, in which Celeno will provide the wireless communications chips in home networks in China Telecom's IPTV project.
Celeno may use the current success to carry out another fundraising round. About $30 million has been invested in the company to date, primarily by Greylock Partners, Pitango Venture Capital, and technology company Cisco.
Diffusion Group senior partner Colin Dixon said, “For cable operators, providing streaming video content beyond traditional set-top boxes is no longer just an option, it’s mandatory. Carrier-grade Wi-Fi solutions such as Celeno’s are now essential to cable operators as customers increasingly expect multi-media delivery to wireless devices, anywhere in the home.”
Celeno is a leading provider of high performance Wi-Fi chips for HD multimedia and entertainment home networking applications.
Published by Globes [online], Israel business news - www.globes-online.com - on September 12, 2010
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