Combination Consolidates Worldwide Expertise in High-Speed Powerline Networking
OCALA, FLA -March 29, 2004 - Intellon Corporation, the world leader in integrated circuits for high -speed powerline networking, today announced it has acquired the engineering team and intellectual property of Toronto -based Cogency Semiconductor Inc., a competing developer of powerline integrated circuits. The transaction demonstrates Intellon's commitment to maintain its global leadership in the growing powerline networking industry by providing its customers with the most advanced powerline networking capabilities possible.
As a result of the transaction, 18 Cogency employees, mostly engineers, will be joining a new Intellon office in Toronto. Additional employees will be added to the Toronto office, as well as Intellon's offices in Ocala, Florida and San Jose, California, during 2004. The Cogency and Intellon engineers will work as a fully integrated team, with project leadership from both sides of the border. Cogency President and Chief Executive Officer Ron Glibbery, will become president of Intellon and Keith Riley, Cogency's Vice President of Engineering will assume the same title with Intellon.
Glibbery brings deep industry expertise to Intellon and will be key in setting and executing on Intellon's growth strategies. Glibbery has been with Cogency since its inception. Prior to that, he was the general manager for the digital video group of LSI Logic Corp. of Canada where he was also a member of the senior management team, responsible for marketing, sales and engineering. Glibbery gained extensive international experience at LSI Logic in high -end PC motherboard chipset and graphic IC markets.
Financial details of the transaction were not disclosed.
"This important transaction consolidates the best powerline expertise in the world at Intellon," said Charlie Harris, Chairman and CEO of Intellon. "With this acquisition, we have over 95% of the growing world market for HomePlug 1.0 integrated circuits. We intend to continue that leadership with our next generation PowerAV ™ integrated circuits that will support video streaming over existing home powerlines."
Intellon's next generation PowerAV chipsets will support transmission speeds well in excess of 100 Mbps, allowing transmission of multiple audio, standard -definition video and HDTV video streams over powerlines, with better bandwidth, coverage and reliability than existing wireless technologies. Intellon's PowerAV technology has been selected to be part of the baseline technology for the HomePlugAV specification being developed by the HomePlug Powerline Alliance, Inc.
"Our two companies share a high -performance, customer -focused culture and we look forward to becoming a part of a team that embraces similar values," said Glibbery, President of Intellon. "The biggest winners, however, will be our customers, who can expect the best powerline networking solutions in the world from one provider."
Intellon Corporation ( www.intellon.com ) is a privately -held fabless semiconductor company specializing in powerline networking and communications. Intellon's integrated circuits allow consumers to share Internet connections, stream digital audio and video, and network PC and consumer entertainment devices by simply pluggin g into existing power outlets. Intellon's PowerPacket™ technology, selected by the HomePlug Powerline Alliance as the basis for its industry specification 1.0 following a 500 -home test, is built on more than 12 years of experience working in the powerline environment. Intellon is a founding sponsor and member of the board of directors of the HomePlug Powerline Alliance.
Home and small business networking products using Intellon's powerline ICs are already available in North America, Europe and Asia from such leading companies as Asoka, Belkin, Corinex, Devolo, D -Link, Elcon, Gateway, Gigafast, Linksys, Netgear, Packard Bell, Siemens and ST&T. Consumer electronics manufacturers are working with Intellon to develop a wide variety of HomePlug -embedded devices, including desktop PCs, broadband modems, Internet gateways, security cameras and audio/video entertainment systems. Intellon's intellectual property is protected by a significant patent portfolio.
Intellon's investors include Comcast Interactive Capital, Duchossois TECnology Partners, EnerTech Capital, Fidelity Ventures, Hydro -Québec CapiTech, Liberty Associated Partners, Philips Venture Capital Fund, TL Ventures and UMC Capital Corporation.
HomePlug is a registered trademark of the HomePlug Powerline Alliance, Inc.