Applied, Broadcom invest in Israeli wireless startup
Semiconductor Business News
(03/05/03 11:07 a.m. EST)
MENLO PARK, Calif. - Applied Materials Ventures and Broadcom Corp. today announced they have invested $1.5 million in M-Stream Inc., a developer of cellular phone technologies.
Applied Materials Ventures, the venture capital arm of Applied Materials Inc., will have a seat on M-Stream's board. At its R&D center in Kfar-Saba, Israel, M-Stream develops technologies that enhance cellular communications.
As part of this strategy, Applied Materials Ventures of Menlo Park recently established a presence in Israel. The company now employs a full-time professional to identify promising investment opportunities in the burgeoning Israeli technology sector. The firm intends to extend its presence to other international markets as well.
Last year, Applied Materials created a venture capital firm, which would fund companies in the semiconductor and optical arena. The firm has invested in several companies, including Glimmerglass Networks, Grandis, Intinera, and Instant 802. |
