Thursday, November 14, 2002
Tech Capital Partners portfolio company VideoLocus acquired by LSI Logic Corporation
A significant return to shareholders delivered in less than two years
WATERLOO, ON, November 14, 2002 -– Tech Capital Partners, the only venture capital firm based in the high-tech centre of Waterloo, Ontario, today announced that LSI Logic Corporation (NYSE: LSI), has completed the purchase of Tech Capital portfolio company VideoLocus Inc. of Waterloo.
A Tech Capital investment since June 2001, VideoLocus develops next generation video compression technologies and solutions, with a specific emphasis on low bit rate, high quality, full resolution, and full frame rate applications.
“This acquisition is a great success story for the Waterloo region and demonstrates that even in this depressed market, compelling technology, a strong team, and hard work will be rewarded,” said Tim Jackson, Partner, Tech Capital Partners, “VideoLocus was formed by four former employees of PixStream/Cisco Systems. Providing seed financing to companies like VideoLocus, and attracting companies like LSI to the region, is exactly what we set out to accomplish when we started Tech Capital in January 2001.”
VideoLocus was founded in May 2001. The company’s 17 employees will become part of the LSI Broadband Home Media Products Division.
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