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LiU spinoff sold for SEK 240 Million

 

Coresonic was founded by four Linköping University (LiU) researchers and is set to become a wholly owned subsidiary of Taiwanese firm MediaTek.

Coresonic develops new, simple and low-power architecture for digital signal processors, the core of all digital communication. The company was founded in 2004 by four researchers at the Department of Electrical Engineering:

Nilsson, Liu and Tell are still actively involved the company, while Svensson has retired.

Investment company, Industrifonden, invested in the company in 2007, which made it possible to commercialise their research results. In 2010 SEB Venture Capital became a company member. The venture capital companies have now sold Coresonic to Gaintech Co, a wholly owned subsidiary of Taiwanese semiconductor company MediaTek, for USD 35 million, the equivalent of SEK 240 million.

For the past year MediaTek has licensed Coresonic’s architecture for use in baseband applications for wireless communication. They are now taking over ownership but maintain that the technology will still be developed in Linköping.

“The sale presents major advantages for both parties. Now we have the opportunity to increase our pace and introduce new wireless products via MediaTek’s global network,” said Coresonic CEO Johan Lodenius in a press release.


 

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Monica Westman Svenselius Thu Apr 26 09:36:00 CEST 2012




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