New company in semiconductor market

Royal Philips Electronics has announced that Silicon Hive has been spun out as an independent company.

New venture partners, TVM Capital and Philips have invested $10 million in the new company. Philips retains a minority stake. Silicon Hive provides programmable processor IP cores for the semiconductor and consumer electronics industry.

The investment enables the company to implement its growth plans by scaling its commercial operations worldwide, and allowing further investments into new product development.

As an independent semiconductor IP supplier, the company has the freedom to license to the entire electronics industry. The new company will have offices in The Netherlands, United States, Korea and India.

For further information, visit www.siliconhive.com.