Intel (INTC) Acquires Spinoff Silicon Hive

Silicon Hive, a spinoff from Philips Electronics, based in the Netherlands, has been acquired by Intel (INTC).

Silicon Hive was incubated by Philips to commercialize parallel processing technology for semiconductor Systems-on-Chip.

In 2007, Philips decided to spin off 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 startup.

New Venture Partners, which has an office in San Mateo, led the first round of funding for Silicon Hive with initial participation from TVM Capital.

Terms of the deal weren't disclosed.

Intel was trading at $20.00, gaining $0.20, or 1.00 percent, as of 12:35 PM EST.




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