Applied Data Systems Receives $5M in Venture Financing
biz.yahoo.com
COLUMBIA, Md., April 10 /PRNewswire/ -- Applied Data Systems (ADS), a provider of application-ready RISC-based embedded solutions, announced that it received $5 million in preferred stock venture financing. The Argentum Group, a New York-based venture capital firm, led the investment with $2.5 million. Vancouver-based iTech Capital Corp. (Toronto: ITE.TO - news) and other investors also participated in this round of financing.
ADS is a leading developer of RISC-based embedded solutions, employing Intel's (Nasdaq: INTC - news) StrongARM processor and microprocessor core technology from ARM Ltd. (Nasdaq: ARMHY; London: ARM), and supporting a wide range of operating systems including Linux, Windows CE, and VxWorks. ADS' solutions are ideally suited for mobile and Internet-enabled applications requiring wireless connectivity due to their low-power consumption, robust functionality and extensive compatibility with peripherals. ADS solutions enable numerous applications including process control, GPS, fleet management, POS / kiosk, medical instrumentation, and industrial data management. ADS operates in what has been estimated as a $4 billion targeted embedded systems market, incorporating wireless and Internet-based applications.
ADS is the first to market with a standard application-ready embedded systems solution using Intel's StrongARM products, a family of processors which are becoming the preferred core components for the enormous and rapidly growing markets for portable and wireless applications. Due to its extensive driver library and technology expertise, ADS delivers a virtually 'plug-and- play' solution complete with a ported operating system and configured peripheral drivers. ADS solutions can rapidly be embedded in a customer's total solution and integrated with custom applications, without the need for additional configuration, resulting in reduced time to market, lower cost, and superior design and engineering options to accommodate a wide range of design and redesign variations. ADS provides a compelling outsourced embedded solution for customers seeking 5,000 - 20,000 units, allowing these customers to efficiently direct their scarce engineering resources to focus on core competencies. ADS solutions are available on an OEM or licensed basis to systems manufacturers and integrators, in standard, off-the-shelf products, as well as custom designs.
ADS solutions support numerous operating systems and languages including Linux, Microsoft's Windows CE, Java, Wind River's VxWorks, Microware's OS-9, and ATI's Nucleus. The introduction of the Company's Linux-based embedded products this month, positions ADS as one of the most versatile providers of StrongARM-based embedded systems applications today, addressing the growing demand and popularity for the open-source operating system.
The company has an extensive customer base, including many Fortune 500 companies, spanning a myriad of industries. In addition, ADS has attracted significant interest from large potential customers, strategic partners, and licensees.
Daniel Raynor, a Managing Partner of The Argentum Group, stated, ``ADS has demonstrated an excellent ability to develop innovative products that meet the demand of emerging new markets. In particular, ADS is well positioned to capitalize on the dramatic growth of devices that enable wireless Internet- connectivity as well as the increasing popularity of the Linux operating system.'
For more information about Applied Data Systems, please call 301/490-4007 or visit the website at flatpanels.com. |
