|
MassHighTech August 11, 2003
Coatue sold to
Advanced Micro Devices Venture capital firm ITU Ventures sold one of its portfolio companies — Woburn’s Coatue Corp. — to Advanced Micro Devices Inc. in Sunnyvale, Calif., for an undisclosed amount. Coatue has been developing a new generation of memory chips based on a proprietary electronic-polymer technology that is said to offer greater performance and lower cost than current memory devices. Coatue’s technology combines DRAM speed, Flash non-volatility, and low-power consumption into a single universal memory chip. Storage density and cost per bit for Coatue’s products are intended to be superior to conventional silicon memory products. Furthermore, Coatue's polymer memory materials have been designed to be fully compatible with standard silicon manufacturing. Subsequent to the sale, AMD contributed Coatue, along with other assets of its Flash Memory Group, to FASL LLC, a joint venture with Fujitsu, announced on July 14. “We are pleased with the sale of Coatue to an industry leader such as AMD,” said Andrew Murray, principal, Los Angeles-based ITU Ventures, in a statement. “The acquisition of Coatue, less than three years after its formation, illustrates the value that early-stage technologies can have when combined with first-class entrepreneurs and strategic seed capital.” “ITU was an
early investor in Coatue and they have supported Coatue’s efforts
in a number of key strategic areas,” said Andrew Perlman, founder
of Coatue and director, business development for FASL LLC, in a statement.
“As a founder of two venture-backed startups, I have been pleased
with ITU’s skills and expertise. Most importantly in Coatue’s
case, we were provided access to strategic partners such as AMD.”
|
||||
|