Comcast, EnerTech, Liberty Associated, Fidelity and Philips Invest In Home Powerline Networking Technology Leader Intellon
OCALA, FLA - April 5, 2004 - Intellon Corporation, the world leader in integrated circuits for high -speed powerline networking, today announced it has raised $23.5 million in new equity financing. The investment was led by Comcast Interactive Capital, EnerTech Capital and Liberty Associated Partners, LP. Intellon's largest investor, Fidelity Ventures, was also a major participant in the financing. Other investors in the round included Duchossois TECnology Partners, Hydro -Québec CapiTech, Philips Venture Capital Fund, TL Ventures and UMC Capital Corporation.
Intellon designs and develops integrated circuits that enable high -speed networking over existing powerlines within a home or office. The technology is used to network devices without the traditional coverage, security and interference limitations that wireless solutions entail. Intellon's patented technology was selected by the HomePlug® Powerline Alliance as the basis of the HomePlug 1.0 standard. The company is currently shipping chipsets that enable powerline communications at speeds of up to 14 Mbps.
Intellon customers currently shipping powerline networking products include Asoka, Belkin, Corinex, Devolo, DLink, Elcon, Gateway, Gigafast, Linksys, Netgear, Packard Bell, Siemens and ST&T. These products can be purchased at retail outlets including Best Buy, Circuit City, Radio Shack, Office Depot and CompUSA.
Intellon will use the new funds for general working capital and the development and production of its PowerAV™ integrated circuits. Intellon's next generation PowerAV chipsets, available later this year, 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.
"As the inventor of the technology behind the HomePlug 1.0 standard, Intellon is driving the market for powerline networking and communications on a worldwide basis. We are particularly interested in the growth opportunities we see for powerline networking in data, video and voice distribution in the home," said Julian Brodsky, founder and vice chairman of Comcast Corporation and senior managing partner of Comcast Interactive Capital.
"Powerline networking is the simplest and widest coverage home -networking technology available today. We are excited by the opportunity for Intellon to embed its technology in consumer electronics devices, enabling the power cord to deliver both power and communications to any device," said Scott Ungerer, managing director and CEO of EnerTech Capital.
`This new round of funding puts Intellon in an exceptional position to capitalize on the future growth opportunities in powerline communications and to further expand our worldwide leadership in the market for powerline ICs. With this strong support from key investors and strategic partners we can move toward worldwide deployment of our exciting PowerAV technology in 2004," said Charlie Harris, chairman and chief executive officer of Intellon.
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 plugging 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.
About Comcast Interactive Capital
Comcast Interactive Capital (CIC) is a venture capital fund focused on broadband, enterprise and interactive technologies. CIC is affiliated with Comcast Corporation, a diversified global leader in cable, broadband services, telecommunications, electronic commerce, and entertainment. CIC`s primary goal is to generate superior financial returns from private equity investments in early -stage technology companies. To achieve this goal, CIC works to foster the success of its portfolio companies through the unique resources, experience, and insight of both CIC and the Comcast family of companies. Additional information is available at www.civentures.com.
About EnerTech Capital
Since 1996, EnerTech Capital has helped entrepreneurs and management teams build innovative software, materials, services and technology companies with the promise to revolutionize the energy and communications industries. Today, EnerTech has emerged as the leading early to expansion stage venture firm in the energy and cleantech fields, and has additionally built a solid reputation for investments in the telecommunications/broadband space. EnerTech is a dedicated team of skilled investment professionals with significant domain operating experience. Based just outside of Philadelphia, PA, EnerTech currently manages two funds totaling $289 million in committed capital
About Liberty Associated Partners
Liberty Associated Partners, LP is a private investment fund focusing on investments in communications, media, Internet and related technology companies. Liberty Associated is managed by Associated Group, LLC, whose principals have extensive experience investing in, advising and operating emerging and established companies in numerous industries, including cable, local telecommunications, Internet, radio and wireless communications and wireless location systems.
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