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SANTA CLARA, CA – November 27, 2007 – Enigma Semiconductor, Inc. today announced that it raised $5.6 million in an extension to its series B financing. The company also announced that it hired a new CEO and a new VP of Sales. The combined moves strengthen the company's position in the exploding market for packet-based switch fabrics. "The new financing is not just further validation for our company's patented technology," said Enigma Semiconductor President & CEO Douglas Goodyear, "It recognizes our growing presence in IPTV and other bandwidth-hungry markets." Enigma Semiconductor will use the new funds to launch new packet-based switch fabrics during the first half of 2008. The funds were raised through current investors Innovations Kapital, NorthZone Ventures, TVM Capital, and Sunstone Capital. About Douglas Goodyear Douglas Goodyear was named President and Chief Executive Officer on September 10, 2007. Goodyear comes to Enigma Semiconductor having led public and private hi-tech companies, serving as CEO at Tioga (acquired by ST Micro), TakImaging (Insilica), and Nuelight (Leadis Technologies). He has raised working capital of nearly $100M and created exits in the public markets and via M&A. About Everett Herrera Everett Herrera was named Vice President of Sales and Business Development on October 1, 2007. A seasoned sales executive with extensive experience in the networking and telecom semiconductor industry, Herrera served as VP of Sales for Redpine Signals, and held senior sales, marketing and engineering positions at Silicon Packets (Cypress), Intel, Paxonet Communications (Conexant) and C-Cube Microsystems (LSI Logic). About Enigma Semiconductor Enigma Semiconductor is an emerging leader in high performance, scalable packet-based switch fabric silicon for next-generation networking systems. The company's unique architecture combined with its advances in component integration enable system developers to break new ground in system efficiency. A fabless semiconductor company headquartered in Santa Clara, Calif. with research and development operations in Copenhagen, Enigma Semiconductor is backed by key technology investors including Innovations Kapital, Northzone Ventures, TVM Capital, and Sunstone Capital. Visit Enigma Semiconductor on the web at www.enigmasemi.com. For further information, please contact: Everett Herrera |