Chip co ASOCS raises $1m from tech guru George Gilder

The investment brings the amount of capital raised by ASOCS to $25 million.

Technology guru George Gilder has invested $1 million in fabless semiconductor company ASOCS Ltd. through his firm, Gilder Cremers Fund LP. The investment brings the amount of capital raised by ASOCS to $25 million.

ASOCS CTO Doron Solomon and chief scientist Prof. Shimon Litsyn founded the company in 2003. It develops wireless MultiComms processors and system solutions for mobile devices. The company's processors offer a uniform communications solution for a range of cellular and wireless protocols, such as iPad and smartphones, as well as for digital television.

ASOCS has developed its first processor, which is marketed in the Far East, earning several million dollars in sales in 2010, mostly in China. ASOCS also collaborates with Fujitsu Ltd. (TSE: 6702; Nasdaq: FJTSY), which has invested in the company.

Other investors include Vertex Venture Capital, Harel Hertz Investment House Ltd., Ami Segal's Forum Group, and Daniel Recanati's Rhodium Fund.

Gilder said, "ASOCS has pioneered software-defined radio as a battlefield baseband technology-for the RF jungles of electronic warfare and jamming radar. Now that the protocol jungles are moving to the big city battlegrounds of mobile wireless cellular communications, ASOCS has adapted its tools for the cheap and agile functions and runaway markets of iPads, teleputers, smartphones, and a mobile menagerie of new networked devices.

ASOCS CEO Gilad Garon, "I truly see this investment and endorsement by George Gilder as one of the most significant milestones in ASOCS history since its inception in 2003. George has been spot on in recognizing technology trends and winners in the wireless space, most notably, in our domain, the emergence of CDMA and Qualcomm as industry leaders. He added Gilder's statement that ASOCS is a technology leader will help ASOCS in its drive for industry recognition.

Gilder wrote about ASOCS in his book, "The Israeli Test" in 2009, alongside Amimon Ltd. and Provigent Ltd. He is reportedly a longstanding investor in Provigent, and also invested in EZchip Semiconductor Ltd. (Nasdaq: EZCH; TASE:EZCH) over ten years ago.

Gilder's investment is important for his technological knowledge. His is best known for his recommendations of optical telecommunications solutions developers.

Published by Globes [online], Israel business news - www.globes-online.com - on February 8, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

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