(PR) New Venture Partners Portfolio Company, Silicon Hive, Acquired by Intel

New Venture Partners, the global venture capital firm dedicated to corporate technology spin-outs, today announced that its portfolio company, Silicon Hive, a spin-out from Philips Electronics (Philips), has been acquired by Intel Corporation (Intel). "New Venture Partners and Intel Capital never shied away from the heavy lifting involved in making Silicon Hive the success it is today".

Silicon Hive was incubated by Philips to commercialize parallel processing technology for semiconductor Systems-on-Chip (SoC). In 2007, Philips decided to spin out Silicon Hive as an independent, venture-backed company. New Venture Partners structured the transaction, transitioning the Silicon Hive business -- team, relationships, products, technology and related intellectual property -- out of Philips and into a start-up company. New Venture Partners led the Series A investment in Silicon Hive with initial participation from TVM Capital.

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