SiBEAM Receives Equity Investment

SiBEAM, Inc., a Sunnyvale, CA-based developer of standards-based 60 GHz semiconductor technology for wireless transmission of high-definition (HD) video, audio and data, has received an undisclosed sum of equity investment from Best Buy Co., Inc., a retailer of consumer electronics.
The investment was made by Best Buy Capital, the corporate venture capital group within Best Buy Co., Inc.
According to John LeMoncheck, President and CEO of SiBEAM, “this funding will aid the launch of several of our strategic initiatives and further cements WirelessHD technology as the industry standard for the next generation of wireless connectivity for sharing content among a variety of the growing number of digital devices present in today’s homes”.

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