Germany’s Earlybird Venture Capital has exited its investment in BridgeCo Inc., selling the company to publicly traded semiconductor company SMSC. Terms of the deal were not released. BridgeCo developers networked audio technologies. Earlybird first invested in the company in 2000, and was the company’s first institutional investor.
Earlybird Venture Capital is pleased to announce that its portfolio company BridgeCo Inc. (http://www.bridgeco.com) a leader in networked audio technologies, was acquired by SMSC (NASDAQ: SMSC), a leading semiconductor company enabling content rich connectivity systems. BridgeCo’s JukeBlox(TM) technology connects tablets, smartphones, PCs, Macs and other consumer electronics products to a new world of audio entertainment. Earlybird invested in 2000 as the company’s first institutional investor. In addition to providing BridgeCo with capital in the early stage of the company’s development, Earlybird also worked alongside the seasoned management team to identify the best sources of later stage capital requirements and aided them in their successful internationalization strategy.
With the industry’s only system-on-a-chip (SoC) and Software Design Kit (SDK) for networked audio, BridgeCo is making the connected home a reality and enabling consumers to access their local or cloud-based music library from any device and from any room in the home. BridgeCo’s technology has been adopted by some of the largest consumer electronics brands in the world including Pioneer, Philips, Denon, Marantz, JBL, B&W and Harman/Kardon, leading to a doubling of customer products in production in each of the last three years.
Earlybird Managing Partner Christian Nagel and board member of BridgeCo, comments: “This exit demonstrates our systematic approach of identifying extraordinary German and European technology companies who can reshape industries and our deep commitment to developing these companies into world-class enterprises, and our necessary staying power as a venture capitalist.”
Gene Sheridan, CEO of BridgeCo comments on the successful and rewarding relationship with its first investor: “Earlybird not only challenged us to develop a consistent strategy that could reshape our industry in the early days of BridgeCo they also were deeply committed to supporting us and coaching us through all the years to successfully implement our international business strategy until one of our proudest achievements: the sale to SMSC.”
Earlybird Venture Capital is one of the most successful European venture investors. Currently, Earlybird manages EUR430 million in assets for an international investor base. Earlybird invests in innovative, fast-growing technology enabled services companies with outstanding management teams and high growth potential in international markets. Earlybird’s portfolio currently includes 27 companies and a number of category-leading cloud services, consumer Internet and digital media firms such as Azeti, B2X Care, CrowdPark, Madvertise, Mikini, Nfon, Scoreloop, Simfy and Ubitricity. Since its inception, Earlybird has invested in over 70 companies that have sparked some of the most significant innovations in business and technology. In addition to several successful trade sales, Earlybird has led six companies to an IPO at four different European exchanges (Interhyp, Tipp24, Wilex, Esmertec, entelos, and NoemaLife). Further Information is available at http://www.earlybird.com, on our blog: http://www.blog.earlybird.com, on Twitter: EarlybirdVC or Facebook: Earlybird Venture Capital.