CAMBRIDGE, Mass.–(BUSINESS WIRE)–Aug. 8, 2003–SMaL Camera Technologies, a developer of electronic imaging solutions and the award-winning Ultra-Pocket(R) line of super-thin digital still cameras,announced today that it has closed its Series C round of financing for $13.5 million. This financing round includes significant investments from new investors The Carlyle Group (lead) and WassersteinVenture Capital. The SoundView Technology Group served as the sole placement agent in connection with the financing. SMaL will invest the money to continue product, sales and marketing development inthe consumer electronics, automotive and security markets.
The Carlyle Group led the round. Carlyle is one of the world’s largest private equity firms, with offices in most major industrialized countries. “We have made several complementary investments in private imaging sensor companies, and have been actively looking for a compelling investment opportunity in CMOS imaging.” said Allan Thygesen, Managing Director at The Carlyle Group. “SMaL stood out based on its innovative and differentiated technology, excellent management and founder team, and strong commercial momentum in multiple markets.”
“The investment community’s interest in SMaL continues to validate SMaL’s technology leadership in the digital imaging industry,” said Maurizio Arienzo, President and CEO of SMaL Camera Technologies. “Our revolutionary technologies and unparalleled systems design expertise have allowed us to create entirely new digital imaging markets such as the credit-card sized digital camera category and digital video acquisition for automotive applications. This financing will enable SMaL to further develop next-generation technologies and products and extend our leadership in SMaL’s three core markets: consumer, automotive and security imaging.”
SMaL is best known for its thin, low power Ultra-Pocket digital camera solutions, which are used to enable existing and future lifestyle digital cameras and camera-enabled devices. Over 750,000 SMaL-enabled credit card size cameras have been sold by OEMs in the digital still camera market, such as Fuji, Oregon Scientific, Radio Shack, Creative Labs, and Logitech. In the automotive market, SMaL’s Autobrite(R) and high-sensitivity technologies provide high-quality video that will enable driver assistance applications in the near future. SMaL recently announced a design win with one of the top-five Tier 1 automotive suppliers in the world. SMaL also serves the security and surveillance market. SMaL’s Ultra-Wide(TM) and Autobrite technologies enable video cameras that help security professionals increase safety and security with the display of wide-angle views and clear, crisp video content, regardless of extreme variations of brightness within the same scene.
About The Carlyle Group
The Carlyle Group is a global private equity firm with nearly $16 billion under management. Carlyle generates extraordinary returns for its investors by employing a conservative, proven, and disciplined approach. Carlyle invests in buyouts, real estate, high yield, venture capital, and turnaround in North America, Europe, and Asia, focusing on aerospace & defense, automotive, consumer & industrial, energy & power, healthcare, technology & business services, telecommunications & media and transportation. Since 1987, the firm has invested $8.6 billion. The Carlyle Group employs more than 500 people in offices in 12 countries. See www.carlyle.com.
About Wasserstein Venture Capital
Wasserstein & Co., LP is an independent private equity and investment firm, focused on leveraged buyout investments and venture capital investments. The Firm has approximately $2.0 billion of assets under management. Wasserstein Venture Capital, the Firm’s venture investing arm, has completed over 30 investments in private technology-based companies in areas including semiconductors, enterprise software, communications and biotechnology. Our team brings decades of experience in engineering/product development, business general management and investment banking. Wasserstein & Co. conducts its activities through offices in New York, Los Angeles and Palo Alto.
About SMaL Camera Technologies
SMaL Camera Technologies is an award-winning developer of electronic imaging solutions for the digital camera, security and surveillance, consumer electronics and automotive markets. SMaL’s solutions are built around its proprietary CMOS image sensors, video processing ASICs and Autobrite(R) technology. The result is industry-leading integration, low power consumption, high dynamic range and near-infrared sensitivity. SMaL was co-founded and launched in 1999 by leading electronic imaging experts at the Massachusetts Institute of Technology (MIT). SMaL is a privately held, venture-backed company headquartered in Cambridge, Massachusetts, USA.
For more information on SMaL Camera Technologies and its products, visit the company’s web site at http://www.SMaLcamera.com.
