Prelude invests further in Xanadu
Xanadu acquires wireless networking leader - Ubiwave

Prelude Trust plc (“Prelude” or “the Trust”), the investment trust managed by Esprit Capital Management Ltd that specialises in high growth technology-based businesses, has invested a further €900,000 (£620,000) in Xanadu Wireless BV (“Xanadu” or “the Company”). The investment has been made at the same price per share as the first tranche in May 2006, this price being the basis of the current valuation of the Trust's investment. Xanadu is a fabless semiconductor company, based in the Netherlands providing products for the wireless sensor market based on the IEEE 802.15.4 and ZigBee standards.

The investment completes the financing round from May 2006 and has been provided by Prelude, GIMV and Motorola Ventures. This investment coincides with Xanadu’s acquisition of Ubiwave NV, a Belgian wireless systems company, following which the Trust has a 21.2% shareholding in the combined company.

Alan Duncan a partner with Esprit Capital Partners and a director of Xanadu said: “We are very pleased with Xanadu’s progress. The Company has developed a family of innovative chips for wireless sensor applications that offer a combination of low cost with minimal power dissipation enabling sensors to operate for longer or to be powered by smaller batteries. Xanadu was already working with Ubiwave’s software team and combining the businesses has created a company that can provide not only semiconductor devices but also complete platform solutions to our customers.”

Cees Links, CEO and co-founder of Xanadu, added; “This acquisition is a key milestone in our strategy to become the leading supplier of wireless networking systems solutions. By combining Xanadu’s industry leading wireless ICs with Ubiwave’s software and systems experience, we will be able to accelerate the combined company’s revenues by offering customers powerful solutions for their networked sensor requirements.”

For further information, please visit www.prelude-trust.co.uk or contact:

Alan Duncan/Jayne Tamblin John West/Clemmie Carr
Prelude Trust plc Tavistock Communications
Tel: 01223 307 770 Tel: 020 7920 3150
alan.duncan@espritcp.com jwest@tavistock.co.uk

Glossary

Fabless semiconductor companies specialise in the design and sale of hardware devices implemented on semiconductor chips. Advantage is achieved by outsourcing the fabrication of the devices to a specialised semiconductor manufacturer, called a semiconductor foundry or “fab”.

The IEEE 802.15 working group develops personal area network standards for short distance wireless networks; the ZigBee Alliance is an association of companies working together to enable reliable, cost-effective, low-power, wirelessly networked monitoring and control products based on an open global standard.

Publisher Contact Information:

Esprit Capital Partners (Prelude Ventures Ltd.)
+44 1223 307 770
alan.duncan@espritcp.com

Company profile of DFJ Esprit (formerly Prelude Ventures Ltd.)
Past press releases of DFJ Esprit (formerly Prelude Ventures Ltd.).