Huntington Beach-based BridgeCo Inc., a well-funded chip startup with Swiss roots, said Thursday it’s selling off its Switzerland operations.
Terms of the deal weren’t disclosed.
The move allows BridgeCo to focus on its consumer electronics business, which deals with networked home audio gear.
“In the very near future every radio, stereo and audio system will have a network interface, and BridgeCo will be the backbone technology that drives many of these consumer products,” Chief Executive Gene Sheridan said in a statement. “We must put all our efforts into driving this market.”
BridgeCo, which got its start as Switzerland’s BridgeCo AG, shifted its headquarters to Orange County late last year.
The divested business, made up of what’s left of BridgeCo AG, is set to be spun off under the name ArchWave, the company said.
ArchWave nabbed an undisclosed amount of venture funding to support the growth of its chip and software product lines geared toward audio and recording professionals.
BridgeCo, which designs chips and software that help home audio devices wirelessly stream music over the Internet or home networks, has made the local office its functional headquarters.
Its technology helps audio devices play music from Internet radio stations and songs stored on a PC or a portable digital music player.
One if its offerings, dubbed “JukeBlox,” allows makers of home audio gear to easily incorporate the chips and software into their devices.
JukeBlox supports subscription music services from Best Buy Co.’s Napster Inc., RealNetworks Inc.’s Rhapsody, Pandora Media Inc.’s free Internet radio site and Sirius XM Radio Inc.’s satellite radio.
BridgeCo has raised some $70 million in venture funding to date.
Investors include Advent Venture Partners LLP, Balderton Capital Management LLP, Cipio Partners, Earlybird Venture Capital, ETV Capital, Fidelity Ventures, Wellington Partners and Intel Capital, the venture arm of chipmaker Intel Corp.
BridgeCo doesn’t disclose sales. The company isn’t profitable but is expecting to break even in 2010 or 2011, Sheridan said.
Its customers include makers of home audio electronics, including Royal Philips Electronics NV, Harman International Industries Inc.’s JBL unit and Denon Electronics LLC, among others.
