Investcorp, the asset management firm specializing in alternative investments, today announced that its venture capital arm, Investcorp Technology Ventures, will make a lead equity investment in Intel’s spinout of its media and signaling business to Eicon Networks Corporation, a provider of media processing hardware and software. Terms of the transaction have not been disclosed but it is expected to close in four to six weeks.
The transaction will allow Intel to focus on its core communications businesses and enable Eicon to provide enhanced product and service offerings to its customers, thereby significantly enhancing the company’s growth trajectory.
Savio Tung, Head of Investcorp Technology Ventures, said: “Our partnership with Eicon in its acquisition of Intel’s media and signaling business represents the largest ever corporate spin-out that Investcorp Technology Ventures has participated in to date. Our investment in this transaction provides us with a significant stake in a high-growth player in a fast-growing segment of the technology sector.
“Equally important, the investment is consistent with our successful strategy of focusing on late stage, highly complex transactions that require creative structuring and extensive experience in the venture buyouts market. Our position as the lead equity investor in this spinout by Intel reflects our strength in this area, and increasing recognition of it. Going forward, we continue to see attractive opportunities throughout the technology market in North America and Europe that require our unique combination of skills and expertise.”
About Investcorp
Investcorp Technology Ventures is part of Investcorp, an asset management firm specializing in alternative investments with offices in the Kingdom of Bahrain, London and New York. The firm offers four products: private equity, hedge funds, real estate investments and venture capital. It was established in 1982 and currently manages total investments in alternative assets of $9.9 billion.
Further information is available at www.investcorp.com.
This press release is not an offer of securities for sale in the United States. Securities may not be offered or sold into the United States absent registration under the U.S. Securities Act of 1933 or an exemption therefrom. The Company does not intend to register any portion of the offering in the United States or to conduct a public offering of any security in the United States.
