Hive spins out of Philips

1 min read

Royal Philips Electronics has spun out Silicon Hive, its technology incubator, as an independent company. The move was led by New Venture Partners, TVM Capital and Philips, who have invested $10million in the new company.

Silicon Hive was formed four years ago to commercialise work undertaken by Philips Research. Since then, the company has launched a product portfolio consisting of tuned processor cores for communications and media processing applications as well as a sophisticated hardware and software design flow to enhance designer productivity. As an independent semiconductor IP supplier, Silicon Hive will have the freedom to license its products to the entire electronics industry. The company will have offices in Eindhoven, Silicon Valley, Seoul and Bangalore. “Our silicon proven cores are now starting to penetrate tier one semiconductor companies supplying major mobile phone and consumer electronics companies,” says Atul Sinha, Silicon Hive’s ceo. “By leveraging Philips technology and solid investment from New Venture Partners and TVM Capital, Silicon Hive can now accelerate its growth plans and exploit this huge business opportunity.” Silicon Hive is the second spin out from Philips Technology Incubator group, following Polymer Vision into independence.