The company develops integrated circuits for the consumer telecommunications and the home entertainment markets.
Horizon Semiconductors, run by chairman and CEO Amir Morad and CSO Leonid Javitz, has raised $16 million in a financing round led by Jerusalem Venture Partners. Giza Venture Capital, Hitachi Corporate Ventures Catalyst (CVC) Fund (Hitachi Ventures), and CSK Venture Capital Co. Ltd. also participated in the round. CVC and CSK participated in Horizon Semiconductors' first financing round a year ago, when it raised $5 million.
Founded two years ago, Horizon Semiconductors develops integrated circuits for the consumer telecommunications and the home entertainment markets. Morad and Javitz previously founded Vision Tech, which they sold to Broadcom (Nasdaq:BRCM) in November 2000 for 7.77 million Broadcom shares, worth $777 million in shares at the time.
However, "Globes" subsequently discovered that 80% of the acquisition price for Vision Tech went to Broadcom customers in exchange for buying the company's products. This means that Morad, Javitz and Vision Tech employees received only $146 million at the time.
Published by Globes [online] - www.globes.co.il - on November 21, 2004