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Semiconductor test specialists ATEEDA secure GBP750,000 investment from AIIL and SCIF


PRESS RELEASE – EDINBURGH, UK, 21 July 2008

Archangel Informal Investment Limited and the Scottish Co-Investment Fund back ATEEDA with ₤750k and further strengthen board

ATEEDA, a leading provider of mixed-signal test tools and services, concluded a new investment of ₤750,000 with Archangel Informal Investment and the Scottish Co-Investment Fund to support high levels of demand for its unique Analog Semiconductor Test Technology. The investment also sees the addition to the board of senior EDA industry figure, Colin Adams as a non-executive director.

ATEEDA’s CEO, David Hamilton commented, “Recognition of the benefits available from our EDA tool, OptimATE, is growing fast. This new investment will allow us to support the high levels of interest in replacing analog tests with simple digital ones. In addition, Dr Adams’ wealth of senior management experience at market leading EDA companies will be a great asset to ATEEDA’s board.”

John Waddell, CEO, AIIL said “Despite the current economic challenges we are very pleased our investors and SCF have supported this opportunity to invest in an Edinburgh company which has real global ambition. We are confident that Colin, whom we know through our Edinburgh University ties, will add value.“

Colin Adams, Director said “ATEEDA has some great technology and a unique value proposition. It is a privilege to be able to work with a local company with such global potential.”

ATEEDA was founded in 2006 to exploit technology previously developed with Scottish Enterprise’s Proof of Concept funding. In February 2007, serial technology entrepreneur and ATEEDA chairman, Peter Denyer, led a seed funding round. The company specializes in testing mixed signal devices which have both analog and digital sections. It has developed the world's first effective software tool that allows analog sections to be tested on digital testers, enabling manufacturers to save substantial amounts of time and money.


For further information on this release please visit www.ateeda.com or contact:
David Hamilton, ATEEDA on tel +44 (0) 131 272 2754
David.hamilton@ateeda.com



Notes to editor

About ATEEDA

www.ATEEDA.com

The company is a world leader in developing semiconductor test solutions. It was founded in 2006 to meet a growing industry need to find an efficient and cost-effective way to test the analog sections of mixed signal integrated circuits while enhancing reliability. These circuits are used in almost all consumer products and the automotive industry. ATEEDA is the first company to develop an effective test solution for the analog section of mixed signal devices that can be run on a digital tester.

OptimATE is ATEEDA's core electronic design aid (EDA) software tool. It offers a unique combination of features and benefits, particularly for mixed signal semiconductor manufacturers. Benefits include dramatically reduced production test time and cost, simplified analog test equipment requirements, and improved statistical information about test coverage. OptimATE©, is at an advanced stage of production validation by several major integrated device manufacturers including automotive industry suppliers.


About Archangel Informal Investments
www.archangelsonline.com
Archangel Informal Investment is Scotland’s leading Business Angel Syndicate. Originally formed in 1992 and based in Edinburgh, the syndicate now comprises around 100 investor members and invests c. £9m per year in early stage Scottish companies.

About Scottish Co-Investment Fund
www.scottish-enterprise.com

The Scottish Co-investment Fund (SCF) is a £72 million equity investment fund established by Scottish Enterprise, partly funded by the European Regional Development Fund (ERDF), to invest from £100,000 to £1 million in company finance deals of up to £2 million.

Unlike a standard venture capital (VC) fund or a business angel, the SCF does not find and negotiate investment deals on its own; instead it forms contractual partnerships with active VC fund managers, business angels and business angel syndicates from the private sector.

The private sector partner finds the opportunity, negotiates the terms of the deal and offers to invest their own equity cash. If the opportunity needs more money than the partner can provide, they can call on SCF to co-invest alongside on equal terms. The partner determines how much the SCF can invest in any new deal, however, the SCF cannot invest more than the private sector.


For further information on this release please visit our website or contact:
David Hamilton, ATEEDA on tel +44 (0) 131 272 2754
David.hamilton@ateeda.com


Publisher Contact Information:

Ateeda Limited
+44 (0) 131 272 2754
David.hamilton@ateeda.com

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