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Raytheon Spins Off New Commercial Company, TelASIC Communications Inc., to Design Advanced Semiconductors for Wireless Industry; Start-up has secured $22.5 million of initial financing.

Publication: PR Newswire
Publication Date: 31-JAN-02 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
EL SEGUNDO, Calif. -- In the latest step of its strategy to commercialize defense electronics, Raytheon Company has launched a venture capital-backed start-up, TelASIC Communications Inc. TelASIC, a fabless semiconductor company based in El Segundo, Calif., will design high performance, cost-effective application specific integrated circuits for use in advanced wireless products. These products, which are based on Raytheon's leading-edge radio frequency (RF) technology, will enable integrated system level solutions that substantially reduce customer costs.

TelASIC has secured $22.5 million in first-round financing from venture capital partners, including Com Ventures, Mission Ventures, Redpoint Ventures...

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