Toronto-based semiconductor company ViXS Systems Inc., a developer of media software for the consumer electronics and video service provider industries, has completed its previously announced going-public transaction and will commence trading on the TSX under the symbol “VXS.” As part of the transaction, the company raised a total of $57.4 million. ViXS was founded in 2001 with the backing of Canadian venture captial firm Celtic House Venture Partners. Other investors include Export Development Canada, New Enterprise Associates and Novacap.
ViXS Systems Inc. (TSX: VXS) is pleased to announce the completion of its previously announced going public transaction. Common shares of ViXS will commence trading on the TSX under the symbol “VXS” on July 15, 2013.
“Listing on the TSX will be a major milestone in the history of our company, which was founded 12 years ago to challenge traditional approaches to semiconductor SoC development,” said Sally Daub, President and CEO of ViXS. “Since then, we have shipped over 27 million chip sets, developed an enviable client base and built a strong reputation for innovation. Our strong financial position and the public listing position us well to pursue our objective to be the leading provider of media processing solutions that enable the delivery of digital content anywhere, anytime, on any device.”
To mark the occasion of the Company’s public listing, the management team of ViXS will ring the opening bell at the Toronto Stock Exchange on July 17.
About ViXS Systems Inc.
ViXS is the semiconductor pioneer in designing and developing high-performance media solutions for the consumer electronics and video service provider industries. With 422 patents issued and pending worldwide, ViXS has been recognized with a number of industry awards for innovation. ViXS is the world leader in transcoder SoC deployments with over 27 million shipments to date, and still growing.
ViXS has a comprehensive portfolio of products to meet the diverse needs of the global media industry. Portfolio highlights include the most advanced dense transcoder available for cloud-based solutions, as well as SoC’s for home devices capable of doing the most simultaneous number of HD streams in the industry. Moreover, ViXS is the only company to have integrated transcoding and Multimedia over Coax Alliance (MoCA) technologies to create the lowest-cost media gateway capable of delivering premium content to consumer IP devices, such as the iPad, inside and outside of the home.
ViXS has three primary product lines: XCode, XCodePro and XConnex. The XCode family of media processors range from stand-alone transcoding chips to full SoC solutions, each capable of handling from one to four simultaneous HD-to-HD transcodes. XCodePro products address the professional enterprise market and are being deployed today for cloud-based media streaming services. The XConnex product line is for communications devices, including MoCA 1.1 and 2.0 solutions. Additionally, ViXS customers are provided with a robust software development kit named Xtensiv.
ViXS is headquartered in Toronto, Canada with global operations and offices in Europe, Asia and North America. For more information on ViXS, visit our website: www.vixs.com.
VIXS™, the ViXS® logo, XCode®, XCodePro™, XConnex™ and Xtensiv™ are trademarks and/or registered trademarks of ViXS. Other trademarks are the property of their respective owners.
This release contains forward-looking statements that relate to ViXS’ current expectations and views of future events, including statements relating to ViXS’ leadership objective. These statements reflect ViXS’ current views with respect to future events and are based on assumptions and subject to risks and uncertainties, which include business, economic and capital market conditions; market conditions and the demand and pricing for ViXS’ products; ViXS’ relationships with its customers, distributors and business partners; ViXS’ ability to successfully define, design and release new products in a timely manner that meet its customers’ needs; ViXS’ ability to attract, retain and motivate qualified personnel; competition in ViXS’ industry; ViXS’ ability to maintain technological leadership; ViXS’ manufacturing supply chain, including pricing of goods and availability of adequate manufacturing capacity from its manufacturing suppliers; ViXS’ ability to transition to new wafer fabrication process technologies and achieve higher levels of design integration; ViXS’ ability to manage risks inherent in foreign operations; ViXS’ ability to successfully maintain and enforce its intellectual property rights and defend third-party claims of infringement of their intellectual property rights; ViXS’ ability to manage cash flow, foreign exchange risk and working capital; ViXS’ ability to manage its growth; ViXS’ dependence on a limited number of customers; fluctuation in ViXS’ quarterly operating results; and ViXS’ dependence on key personnel. These risks, uncertainties, assumptions and other factors could cause ViXS’ actual results, performance, achievements and experience to differ materially from ViXS’ expectations, future results, performances or achievements expressed or implied by the forward looking statements. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Additional information identifying risks and uncertainties is contained in ViXS’s filings with the Canadian securities regulators available at www.sedar.com. Except as required by law, ViXS undertakes no obligation to update or revise publicly any forward looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
SOURCE: ViXS Systems Inc.
For further information:
T: 416-815-0700 ext. 278
T: 416-815-0700 ext. 253
Photo courtesy of Shutterstock.