Spectra7 Microsystems Inc., a Toronto-based analog semiconductor company delivering speed, resolution and signal fidelity to consumer and wireless infrastructure products, has established a listing on the Toronto Stock Exchange and will begin trading under the symbol SEV. Spectra7 was founded last year as a result of a merger backed by Canadian venture capital firms. Celtic House Venture Partners led the company’s startup financing round of C$11 million in August, 2012 with the participation of Edgestone Capital Venture Fund III and Ventures West Capital.
Spectra7 Opens on TSX as Canada’s New Semiconductor Company
Feb 19 – Spectra7 Microsystems
Management Team Rings Opening Bell at the Toronto Stock Exchange
Toronto, Ontario CANADA, February 19, 2013 /FSC/ – Spectra7 Microsystems Inc. (SEV – TSX Venture), (“Spectra7” or “the Company”), a high performance analog semiconductor company delivering unprecedented speed, resolution and signal fidelity to consumer and wireless infrastructure products, rang the Toronto Stock Exchange opening bell today and began trading under the symbol “SEV”.
The event was broadcast live on Business News Network (“BNN”), Canada’s only all business and financial news channel, and was followed shortly-thereafter by an interview with Tony Stelliga, CEO of Spectra7.
“Listing on the TSX Venture Exchange represents another significant milestone in the evolution of Spectra7,” commented Mr. Stelliga. “The market for high performance analog chips to enable lighter, thinner and higher performance consumer electronics is expanding rapidly and we’re at the forefront of that trend.”
The Company serves the HDTV interface market which is expected to grow by 65% in 2014 and the Smart HDTV tuner market which is expected to grow by almost 100% in the same period. The Company also serves the market for mobile Internet infrastructure equipment which is expected to grow 50% by 2017.
“Spectra7 is growing in lock step with an industry that is both significant in size and expanding very rapidly,” commented Daniel Kim, Partner, Managing Director and Head of Research at Paradigm Capital. “Spectra7 benefits from the fact that it is the only analog semiconductor company in Canada on a path to profitability and an industry leader in its market niche, thus providing investors with a truly unique investment vehicle.”
ABOUT SPECTRA7 MICROSYSTEMS INC.
Spectra7 Microsystems Inc. (TSX-V:SEV) is a high performance analog semiconductor company delivering unprecedented speed, resolution and signal fidelity to consumer and wireless infrastructure products. Spectra7’s new system level components address the bottlenecks and the exponential demand for more bandwidth and lower costs in mobile and internet infrastructure equipment, including handsets, tablets, base stations and microwave backhaul systems. The Company is headquartered in Markham, Ontario with development centers in Silicon Valley, Irvine, California and Cork, Ireland. For more information, please visit www.spectra7.com.
Certain information in this news release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in The Company’s filings with the Canadian securities regulators available at www.sedar.com.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact:
Tony Stelliga, CEO
Robert Munro, IR
t: (905) 480-9109 ext. 269
Photo courtesy of Shutterstock.