BOPS, Inc. secures $9.5 Million in second round

BOPS, Inc. secures $9.5 Million in second round

Palo Alto -- August 22, 1999 -- Silicon IP company BOPS, Inc. said it closed a $9.5-Million second round of investments. Lead investors for this round are Pequot Capital, VantagePoint Venture Partners, and Band of Angels Venture Fund. Santa Clara-based BOPS also said that it attracted several industry leaders as new board members. Among them Federico Faggin, who led the development of the world's first microprocessor in 1970. BOPS designs IP cores for high-performance DSP co-processors to MIPS and ARM hosts. The company sells licenses for these IP cores to system vendors, in a business model similar to ARM's. BOPS' technology delivers extreme processing performance to applications in communications (3G cellular, xDSL), and media (3D Graphics, DTV, MPEG encoding).

BOPS, Inc., (www.bops.com) is a fast-growing Semiconductor Intellectual Property (SIP) company with offices in both Chapel Hill, NC and Santa Clara, CA. BOPS is dedicated to providing the digital revolution the ultimate performance/size ratio for any single chip. The BOPS licensable family of high-performance/low-power DSP cores targets a performance range from 1 billion operations per second (bops) to over 100 bops on a single chip. The company was founded by a group of entrepreneurs that includes Jerry Pechanek, Dave Strube, Paul Duncan, Dale Schneider, Frank Barry, Chris Moller, and Steve Walsh. Several of BOPS' founders worked together at IBM before forming BOPS in 1997. Since BOPS was founded, the team has grown to almost 30 people who quietly designed, from scratch, a new and revolutionary DSP technology that includes hardware, software, and development tools. Now, BOPS is ready to take this technology to a market which is sized at well over $8 billion in 1999 and is growing at over 30 percent per year.