Newport Media Inc. announced a $30 million Series C on November 20, 2006. DAG Ventures led the round, joined by five existing investors. The company said it would use the proceeds to increase production and extend its mobile-TV chipset support to several broadcast standards.
Who invested in Newport Media’s Series C?
New investor DAG Ventures led the financing. Previous investors Benchmark Capital, Global Catalyst Partners, Oak Investment Partners, Pinnacle Ventures and Venrock Associates also participated, according to EDN’s November 20, 2006 report.
EDN reported that the round brought Newport Media’s total investment since its 2005 founding to $66 million. Gaebler’s transaction database also records the $30 million Series C; it describes its entries as based on public sources, so it serves as corroboration rather than a company filing.
What was the money meant to fund?
Newport Media said it planned to use the capital to ramp up volume production and broaden its product range for mobile television. The company’s Sundance H chipset initially targeted Digital Video Broadcasting-Handheld (DVB-H). Newport said the series would also support Terrestrial-Digital Multimedia Broadcasting (T-DMB), Integrated Services Digital Broadcasting-Terrestrial (ISDB-T) and MediaFLO.
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That announcement described intended support and a production ramp, not proof that products for all four standards were already shipping at volume. The standards were distinct mobile-TV broadcast systems; the announcement did not rank them or establish which would succeed commercially.
What Newport said about its chipset and customers
Newport president and CEO Mohy Abdelgany said the company had “moved quickly to deliver the world’s smallest and best performing mobile TV chipset with superior power efficiency” and had engaged with multiple tier-one customers worldwide to help bring mobile-TV handsets to market during 2007, as quoted by EDN. The superlative performance and size claim was Abdelgany’s characterization; the report does not independently verify it.
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EDN situated Newport in a developing mobile-TV chipset market alongside startups DiBcom, Siano Mobile and Frontier Silicon, as well as established suppliers NXP Semiconductors, Texas Instruments, Freescale Semiconductors and Microtune.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Later company context
In July 2014, Atmel announced an agreement to acquire Newport Media for $140 million in cash, subject to working-capital adjustments, plus potential earn-out payments of up to $30 million tied to future revenue thresholds. Atmel described Newport as a provider of Wi-Fi and Bluetooth solutions. These were terms of a later proposed acquisition, not part of the 2006 financing; they do not establish how the Sundance H chipset performed. See Atmel’s July 7, 2014 announcement via PR Newswire.
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