Sage Acquires Development Partner; Wireless Firm Gets $5M in First Round
Though its stock has tanked, Santa Ana-based Microsemi Corp. has managed to offer up some good news as its Orange County cohorts continue to do the opposite. Just as Conexant Systems Inc. said last week its second-quarter revenue would be down almost 40% from the first quarter, Microsemi issued news indicating that it could see revenue from a new line of semiconductors earlier than expected.
Microsemi had said it would not see revenue from the new product line until June.
“Now we are starting to actualize the potential from our investments in compound semiconductors,” said Microsemi Chief Executive Jim Peterson.
Though there still is plenty of time before an economic slowdown is over, Microsemi has yet to lay off employees. To boot, the company reported revenue last quarter that jumped 23% from the same quarter a year ago. Its secret? Microsemi boasts plays in seven different semiconductor markets,a move that keeps it buoyed in difficult times. In addition to the gallium arsenide chips it just started shipping, the company reported earlier that it is seeing stronger-than-expected shipments of chips for auto backlighting systems.
“We’re especially pleased by the early progress of our diversity into several new compound semiconductor products. They will both round out our product offering and enhance our strategy for providing system-engineered solutions. Coupled with Microsemi’s advanced packaging, we envision strong acceptance of these advanced, next-generation, compound semiconductor products,” Peterson said.
Sage Gobbles Up Ohio Firm
Moving on a company it had developed software with, accounting software firm Sage Software Inc. recently acquired Haitek Solutions, an Ohio-based software provider, for an undisclosed amount of money. Sage had worked with Haitek to develop manufacturing software, Haitek’s main product.
“For Sage, the acquisition of Haitek Solutions was an excellent business opportunity that opens many doors for both new and existing Sage and Haitek customers,” said Sage Chief Executive David Butler. “Haitek’s sterling reputation as a key provider of ERP solutions to mid-size manufacturers is a perfect complement to Sage’s already-existing channel.”
Sage said its acquisition would help embolden Sage’s market standing in the U.S. by opening it up to business with potentially more than 100,000 big business customers, according to a statement.
Wireless Firm Gets Money
Wireless gear maker Consumer Direct Link completed its Series A round of funding recently, snatching $5 million. The company plans to use the money to develop and distribute its products. Not content that a single round of funding will do for the time being, the company is looking to begin its second round of financing soon, according to a company spokesman.
“The closing of the Series A will also enable the company to initiate a Series B round of financing,” said Keith Rosenbaum, a lawyer who represents the Irvine-based company. “They have a tremendous vision and a very bright future in the wireless industry.”
Acer AII Holding led investors in the most recent financing round.
Aralight Bags $10 Million
Anaheim-based Aralight Inc. received $10 million in its first round of venture capital funding, according to media reports. Ridgewood Capital, Signal Lake Ventures and Solar Venture Partners invested in the company, which makes high-bandwidth devices for networking gear. Lucent New Ventures Group also invested an undisclosed amount of money, according to reports.
The company will use the money to hire more people and continue developing its products.
UCI Dean Honored
Nicolaos G Alexopoulos, dean of the Henry Samueli School of Engineering at University of California, Irvine, was named 2001 Engineer of the Year by the OC section of the Institute of Electrical and Electronics Engineers. The electrical and computer engineering professor was cited for his outstanding contributions to electromagnetic field theory and to the advancement of the engineering profession in OC according to the IEEE.
Alexopoulos became dean of the UCI School of Engineering in 1997 (it was renamed The Henry Samueli School of Engineering in 1999). He was on the engineering faculty at UCLA from 1969 to 1996, during which time he also was associate dean for faculty affairs and chair of the electrical engineering department. He was elected a fellow of the IEEE in 1986 and received the IEEE Schelkunoff Best Paper Award in 1985 and 1997.
