San Diego-Based Semtek Closed Series B Financing

Semtek Innovative Solutions Corporation, a San Diego, California-based developer of a suite of security technologies that stops thefts of credit card data and the counterfeiting of payment cards, closed its Series B round of equity financing.
VeriFone Holdings, Inc., Venrock, and RRE Ventures added to their prior Series A investments and participated in the new round along with original private investors.
Following the closing, VeriFone will own 19.9% of the fully-diluted shares of Semtek with the founding investors and venture capital interests owning the remaining 80.1%.

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