Pixelworks Announces Investment by Strategic Investors in China
10/22/20, 1:14 PM
Location
san jose
Pixelworks, Inc. (NASDAQ: PXLW) (the "Company"), a leading provider of innovative video and display processing solutions, today announced that on October 19, 2020 it entered into a Securities Purchase Agreement with MTM-Xinhe Investment Limited, a consortium of strategic investors from the Chinese semiconductor and mobile eco-system, pursuant to which Pixelworks would issue and sell in a private placement 3,200,000 shares of its common stock, representing approximately 7% of Pixelworks' outstanding shares, in exchange for approximately $6.6 million dollars. The transaction is expected to close in November of 2020.
Company Info
Location
san jose, california, united states
Additional Info
Pixelworks' technology and solutions cover end to end, optimized video delivery that is true to its creator’s intent with a highly authentic viewing experience. Our innovations over two decades has resulted in a strong IP portfolio related to the visual display of digital image data. Our vision is that every screen, no matter how big or small, deserves the highest picture quality. This vision has driven us to develop technology that spans the range from digital projection systems and large flat panel displays to small, low power mobile devices such as smartphones. We also develop innovative methods to apply our core technologies to reduce overall system power and help reduce the bandwidth burden that comes with the display of HD and UHD video.
The relentless advancement of display technology and explosive growth of video consumption driven by digital delivery systems and mobile applications are increasing the necessity and demand for Video Display Processing technology. To meet this growing demand, we deliver our technology as IP cores, semiconductors, software and custom ASIC solutions. This flexible approach allows our customers to deliver the highest video quality in a multitude of applications and form factors while also providing the ability for end product differentiation. Our primary target markets include smartphones, tablets and digital projection systems.
We focus our investments on developing video enhancement solutions for Video Delivery, Mobile Devices and Projectors market segments, with particular attention to increasing performance, video quality, device functionality and saving power. Additionally, we look for ways to leverage our research and development investment into products that address other high-value markets where our innovative proprietary technology provides differentiation for us and our customers. We continually seek to expand our technology portfolio through internal development, co-development with business partners.