|
December 8, 2006 Crossing Automation Awarded Tallwood Venture Capital Funding Early Investment Drives a Unique Concept for Vacuum Wafer Handling SystemsMt. View, Calif. – January 30, 2007 – Crossing Automation, Inc., announced today that Tallwood Venture Capital joins Intel Capital, the strategic investing arm of Intel Corporation, as primary investors into an innovative wafer-handling concept intended for the semiconductor industry. Funding from both companies has allowed Crossing Automation over the last year to invest in the human capital required to develop unique technologies now being integrated into the company’s first product offering. “In a flattening world, our customers continue to outsource an ever increasing percentage of the content of products they ship. In addition, they are concentrating more of their resources on the development of new technologies key to meeting next generation process equipment. Crossing Automation is focused on the development and marketing of advanced wafer handling systems that allow our customers to drive those new products to market faster. We are also focused on enabling new technologies such as insitu-metrology within our product structure, “said Jed Keller, president and CEO of Crossing automation. “As semiconductor equipment companies move toward outsourcing, new solutions to the ongoing challenges that the industry faces must be developed. What is needed is a new approach that will enable faster realization of new technologies that provide lower cost and improved reliability,” said George Pavlov of Tallwood Venture Capital. “We believe Crossing Automation’s innovative approach which focuses on standardization at system level for wafer automation products can meet these challenges.” About Crossing Automation Crossing Automation, Inc. (www.crossinginc.com), was formed in 2004 to develop a new wafer handling system to support the growing capital equipment market. The company’s current product line delivers vacuum wafer processing that offers significant cost of ownership and process benefits for Etch, CVD, Clean, RTP and PVD market segments. Crossing Automation is a private company headquartered in Mt View, CA. About Intel Capital Intel Capital, Intel's venture capital organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software and services targeting enterprise, home, mobility, health, consumer Internet and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$6 billion in nearly 1,000 companies in more than 40 countries. In that time, about 180 portfolio companies have been acquired by other companies and another 155 have gone public on various exchanges around the world. In 2005, Intel Capital invested about US$265 million in about 140 deals with approximately 60 percent of funds invested outside the United States. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com. About Tallwood Venture CapitalTallwood Venture Capital, a Silicon Valley venture capital firm, invests broadly in semiconductor and semiconductor-related technologies. The firm seeks out early-stage investments, passionate entrepreneurs and focuses on hard to do, disruptive technologies and products that have the potential to create a significant market impact. By offering deep semiconductor knowledge, direct operating experience and a high degree of availability, Tallwood builds close, active working relationships with their portfolio companies. Its portfolio companies include Marvell (Nasdaq: MRVL) and SiRF (Nasdaq: SIRF). For more information on Tallwood Venture Capital, visit www.tallwoodvc.com.
|
