DFT Microsystems Closes $3.4 Million in Financing and Ships First Products
DFT Microsystems now poised for growth
Montreal, Canada, February 9, 2006 — DFT Microsystems Canada, an early-stage company focused on delivering advanced semiconductor test solutions to the world, announced today a $3.4 million financing round with participation by BDC Venture Capital, GTI Capital, MSBi Capital and Zon Capital. This investment will allow the company to enhance its sales and marketing effort, expand its product offering and develop key partnerships. The Company also announced that it has shipped its first product to customers and generated first revenues in Q4 of 2005.
“DFT Microsystems is through its early technology development stage and with this round of financing is positioned for growth,” said David Lisk, President and CEO of DFT Microsystems. “We have shipped our first product in Q4 of 2005 and will be increasing our sales efforts as we go forward. The partnerships that we have been developing with our early customers represent a cornerstone of our growth as we roll out timely products that meet the requirements of our target market.”
DFT has been established around a number of ground-breaking microchip testing technologies developed at McGill University by Dr. Gordon Roberts of the Department of Electrical and Computer Engineering. The company develops low cost, specialized automated test solutions for high speed serial interfaces, high frequency clocks, radio frequency (RF) and mixed-signal systems-on-a-chip (SOC). DFT’s testing solutions leverage test and measurement technology that eliminate many of the limitations associated with conventional testing methods, and work seamlessly with test sets ranging from laboratory workstations to automated test equipment on the manufacturing floor. The company’s solutions are targeted at all companies that manufacture and test RF or mixed-signal devices for signal processing, telecommunications, audio, video, biomedical, automobile and defense applications.
“We have been a strong supporter of DFT from its early days when it still was only a McGill University research project,” said Chris Arsenault, partner with MSBi Capital. “We are proud of its development to date, and more particularly, we are proud of the fact that DFT shipped its first product to its key technology customers. With David Lisk at its helm, the company has reached a new level of maturity and is bursting with energy. As investors we are confident that it will deliver on its promises multifold.”
“This investment validates that DFT is now beyond the proof-of-concept phase and well into successful market development,” said Roger Jenkins, Senior General Partner with GTI Capital. “We are very excited by the recent developments at DFT and by the tremendous market opportunities that its technology addresses.”
DFT Microsystems product line includes the DJ60, DJ512 and DJ512SSC, all part of its “Testing Out of the Box™” platform. The company is located in Montreal, Canada with offices in the US. It currently has 10 employees and will be expanding its team in business development and marketing. The current round of financing provides the Company with capital to launch and support its initial product line in addition to new product developments.
About DFT Microsystems
DFT Microsystems delivers a breakthrough in semiconductor test cost and performance via miniature, on-board, high throughput, mixed-signal and high- speed digital test modules. By delivering state of the art performance and signal processing capabilities within its test modules, DFT Microsystems’ technology extends the capabilities and economic life of any ATE platform. Our modules provide solutions that dramatically reduce test cost and accelerate time-to-volume. For more information, visit www.dftmicrosystems.ca.
About MSBi Capital
MSBi Capital is a seed and early stage venture capital fund dedicated to commercializing innovations in information technology, life sciences and the physical sciences. MSBi Capital has a particular focus on establishing and building companies based on technology advancements and inventions originating from the universities of McGill, Sherbrooke and Bishop’s, as well as their affiliated hospitals and research institutes. More information about MSBi is available at www.msbi.ca.
About GTI Capital
Established in 1992, GTI Capital is a leading Montreal-based venture capital firm dedicated to emerging IT enterprises. With $100 million in capital under management, GTI Capital focuses on early-stage companies and applies a fundamental approach to investing and avoids speculative, momentum-driven investments. GTI Capital is particularly interested in the following segments: semiconductors, convergence and networking, telecom, business-to-business e-commerce and industrial applications. For more information, visit www.gticapital.com.
About McGill University
Founded in 1821, McGill University is Canada’s leading research-intensive university. McGill has 21 faculties and professional schools, offering more than 300 programs from the undergraduate to the doctoral level. There are approximately 23,000 undergraduate students and 7,000 graduate students at McGill’s two campuses in Montreal, Canada. McGill is one of two Canadian members of the American Association of Universities. For more information, visit www.mcgill.ca.
About Zon Capital Partners
Zon Capital Partners is a private equity fund headquartered in Princeton, New Jersey with offices in Radnor, Pennsylvania, formed to leverage its managing partners’ experience by investing in ventures formed by seasoned entrepreneurs. Zon focuses on direct investments of $1 to $2 million in expansion stage software and communication companies, primarily located in the Mid-Atlantic region of the US. For more information visit www.zoncapital.com.
About BDC Venture Capital
BDC Venture Capital is a major venture capital investor in Canada, active at every stage of the company’s development cycle, from seed through expansion, with a focus on technology-based businesses that have high growth potential and that are positioned to become dominant players in their markets.
BDC Venture Capital has been involved in venture capital since 1975 and has to date invested in more than 400 companies. It currently manages approximately $500 million in companies involved in the areas of Life Sciences, Telecommunications, Information Technology and Advanced Technologies. For more information, visit www.bdc.ca/en/business_solutions/venture_capital/about_us/default.htm.