Targets high-growth still-image processing markets
San Francisco, Paris, London, February 11, 2002 – Tak’Asic, a fabless provider of still-image processing chipsets, today announced that it has secured €10.8 million in additional equity financing. Sofinnova Partners and Doughty Hanson Technology Ventures led the round. Initial investors Innovacom, Ventech and SPEF Venture also participated in the round, which was orchestrated by the NetsCapital investment bank.
Tak’Asic provides chipsets based on its core expertise in image compression and processing, technologies that are at the heart of the new generation of digital office equipment such as printers, Multi Functional Peripherals, copiers, scanners and faxes, as well as digital cameras. The company’s solutions are incorporated in products from the world’s leading hardware, electronics, networking and peripherals manufacturers. Further details of the financing were not disclosed.
“OEMs and manufacturers of the new generation of digital cameras and office equipment require high-speed, easy-to-use and low-cost solutions for image processing and compression,” explains Jean-Paul Vernière, Chairman and CEO of Tak’Asic. “Our investors recognize that we have the best price/performance ratio on the worldwide market, which gives us a significant competitive advantage in a very high-growth arena.”
“We’re happy to welcome world class investors in this challenging economic climate,” says Bruno Paucard, President and COO of Tak’Asic. “This second round will help finance our commercial, international, and business development investments, as well as R&D for the next generation of even more integrated and higher performance products and solutions.”
“Tak’Asic has consistently demonstrated its ability to leverage its investments wisely, win strategic accounts and move an R&D-intensive business forward. We believe that this company is well positioned to become the market leader,” says Alain Rodermann, Partner, Sofinnova Partners.”
“We were particularly impressed with Tak’Asic’s ability to win a very high proportion of its addressable opportunities with top-tier accounts. The company’s roadmap and its focus on customer satisfaction will make it a winner,” says Soren Hein, Principal, Doughty Hanson Technology Ventures.
Tak’Asic expects revenues to grow at a CAGR of 260% over the next four years, largely driven by market growth in imaging technology. High-end, standard-compliant, still image processing and compression chips are becoming the key component of electronic peripherals and devices for numerous reasons, including the increasing number of appliances that have digital imaging functions; the explosive growth in the size of digitalized image files; the elimination of the PC gateway for much of the new equipment generation and the fact the end-products are becoming more and more complex.
Since the launch of the Tak’B3 chip, a global imaging solution for black & white and color office equipment, Tak’Asic has already posted over 20 design wins with major US, Japanese and Taiwanese manufacturers. High quality image processing is found in mass-market applications such as multi-function peripherals, color printers, digital copiers and digital cameras.
Tak’Asic’s sales strategy is based on centralized, direct sales managed by Tak’Asic’s US office for the worldwide market, and distribution agreements for the Asian and European markets. The company recently signed distribution agreements with several Asian firms including Jepico, one of the best-known Japanese distributors of US-based silicon technologies.
Tak’Asic’s core technology leverages expertise in the key areas of the digital image processing chain, including: image compression/decompression, image enhancement and segmentation, and color management.
About Sofinnova Partners
Sofinnova Partners is a leading European Venture Capital firm dedicated to investing in start-up and early stage companies in Europe and the US, both in the Life Sciences and Information Technology sectors. Based in Paris
since 1972, Sofinnova Partners also has a presence in San Francisco through its sister company Sofinnova Ventures. Sofinnova Partners has 500 million euros under management. For more information, please visit sofinnova.social-unit.fr
About Doughty Hanson Technology Ventures
Doughty Hanson & Co is one of Europe’s largest independent private equity fund managers, with funds focused on private equity, European real estate, and technology ventures. Headquartered in London, the firm has offices throughout Europe as well as in the United States. Doughty Hanson Technology Ventures provides early-stage venture capital financing to technology companies throughout Europe, focusing on software, communications technologies and micro-components. For more information, please see www.doughtyhanson.com.
Founded in 1991, Tak’Asic is a leading provider of still image processing solutions for the digital imaging market including advanced copiers, printers, MFPs, scanners, faxes and network servers. Located in San Francisco, CA and Paris, France the company serves the global market with the world’s fastest digital imaging products. The company maintains development, sales and support locations in the United States, Europe and Asia. Additional information about Tak’Asic and its imaging solutions can be found at www.takasic.com.
Created in 1999, NetsCapital is the first investment bank dedicated to the Digital Economy in France (strategic consulting on private placements, M&As, IPOs and capital markets). NetsCapital has closed over 30 transactions during the last 24 months (22 private placements, 5 market transactions and 3 mergers & acquisitions) for a total of €350 million, across all sectors of the Digital Economy: Hardware and Components, telecommunications and infrastructure, software, Internet services, e-business et new media and entertainment. For more information, please see www.netscapital.com.
Bruno Paucard, COO, Tak’Asic (US) +1-415-362-4477 email@example.com
Caroline Carmagnol / Lisa Ma ,Alizé Public Relations +1-650-320-8900 firstname.lastname@example.org
Jean-Paul Vernière, CEO Tak’Asic (Europe)+33-1-30-12-16-00 email@example.com
Sofinnova Partners: Alain Rodermann +33 1 53 05 41 00
Visit website http://www.takasic.com