Friday, April 15, 2011

SiBeam Acquired By Silicon Image

Sunnvyale-based Silicon Image said Thursday that it has acquired SiBEAM, also based in Sunnyvale, in a deal worth $25.5M in cash plus stock. SiBEAM is a developer of high speed, wireless communications products for uncompressed, HD video. SiBEAM was venture backed by such firms as Best Buy, Cisco Corp., Foundation Capital, Hatteras Venture Partners, Lux Capital, New Enterprise Associates, Panasonic, Samsung, and US Venture Partners. The firm had raised somewhere north of $113.75M in funding since 2004.