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Prime Ventures exits Silicon Hive via acquisition by Intel


Amsterdam - February 23, 2011

Prime Ventures has exited its shareholding in Silicon Hive through the acquisition of Silicon Hive by Intel Corporation. Prime Ventures had been the largest shareholder in Silicon Hive since 2008, when Prime Ventures acquired stakes in seven companies from Philips. Silicon Hive is the second exit from this portfolio and Prime Ventures’ third exit in 2011.

Prime Ventures has shared the vision of Silicon Hive in providing flexible, high-performance multimedia solutions for consumer electronics. This vision was developed consistently for many years, first as an activity within Philips and after the spin-out in 2007 as an independent company. Intel Capital, Intel’s global investment organization, first invested in Silicon Hive in 2008.

Jelto Kromwijk Smits, partner at Prime Ventures since 2009 states, 'I am personally thrilled and honoured to have taken part in both the creation of this company in the Technology Incubator at Philips in 2003, and now in the exit at Prime Ventures. The Silicon Hive team did an exceptional job in turning a truly disruptive technology into successful products in the market”.

Marcos Battisti, Managing Director at Intel Capital adds, “Silicon Hive brings better imaging and video processor technology, compilers and software tools to Intel’s Atom processor portfolio. Silicon Hive’s capabilities will aid in the delivery of differentiated Atom-processor based Systems-on-Chip (SoCs) as multimedia capabilities grow in importance across the mobile smart device segments”.

Over the years, Intel has worked closely with Prime Ventures and Silicon Hive. Intel Capital was an investor in Silicon Hive alongside of Prime Ventures, and helped the company via Intel Technology Days, Intel Capital CEO Summit and the introduction of Silicon Hive to multiple business units inside of Intel. Intel had been an important customer of Silicon Hive, validating the company’s technology and pushing them to continually improve and advance their product development capabilities. Led by Intel Capital’s M&A team, the acquisition and integration of Silicon Hive into Intel has been efficient and smooth. We all look forward to Silicon Hive becoming an outstanding success inside of Intel.

Atul Sinha, CEO of Silicon Hive said, “It has been a great pleasure partnering with Prime Ventures and Intel Capital. They have both shared our strategic vision and provided guidance in penetrating the marketplace. The Silicon Hive team has done a fantastic job as an independent company in leveraging our parallel processing technology for differentiating multimedia solutions. We now target phenomenal successes inside Intel in the delivery of differentiated multimedia experiences in Atom-processor based SoCs”.


About Prime Ventures
Prime Ventures is a leading venture capital firm focusing on investing in European companies in the technology and related industries and leverages its capital, experience and network to actively guide them into global category leaders. The firm has invested in companies in the Benelux countries, United Kingdom, France, Finland and Sweden. From its offices in The Netherlands and the UK the independent partnership manages over 275 million euro in committed capital. For more information, please visit: www.primeventures.com.


For more information, please call:
Etienne Buijs: +31 7 311 58 68, cell: +31 6 150 905 12 (Prime Ventures)


Publisher Contact Information:

Prime Technology Ventures
+31 7 311 58 68
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