Magnum Semiconductor Inc., a Milpitas, California-based provider of video compression and processing solutions for the video broadcast networking market, secured a $36m structured debt financing.
Capital IP Investment Partners provided the financing.
The proceeds will be used to retire existing debt, continue to invest in the technology roadmap and for working capital purposes.
Led by Gopal Solanki, CEO, Magnum provides its proprietary video management ASIC’s, algorithms and firmware for the entire video content creation and distribution chain from contribution and production through distribution over cable, satellite, IPTV and OTT.
The company has R&D centers in Waterloo, Canada and Beijing, China.