GCT Semiconductor receives investment from DoCoMo Capital and JAIC America in the latest strategic round of funding Strategic round validates strong relationships in Japan
SAN JOSE, CA, August 21, 2006 - GCT Semiconductor, Inc., a leader in innovative integrated circuits for the wireless communications industry, today announced the closing of a $5 million Series E round of financing. This strategic round of financing by DoCoMo Capital, Inc. and JAIC America, Inc. reinforces GCT's solid relationships in Japan. DoCoMo Capital and JAIC America have invested after careful evaluation of GCT's product portfolio and solutions, and assessment of GCT's progress developing future technologies.
"We are very pleased to be partnering with DoCoMo Capital, Inc. and JAIC America, Inc.," commented Dr. Kyeongho Lee, President and CEO of GCT Semiconductor. "These key strategic investors play a significant role in advancing our position as a leader in CMOS RF and SoC solutions in general, and more specifically for the W-CDMA and ISDB-T wireless standards. This investment strengthens our key relationships in Japan and helps finance the growth of our company."
The new capital will be used to continue expansion of global operations, and to accelerate product development of GCT's RF CMOS technology for mobile handsets. In addition, GCT will continue to expand its innovative and industry leading line of digital mobile TV single-chip tuners.
"DoCoMo Capital focuses on advancing cutting-edge technologies to promote growth in the wireless industry," said Nobuyuki Akimoto, President and CEO of DoCoMo Capital, Inc. "Our venture investment with GCT Semiconductor will help ensure that key enabling technologies are available to the suppliers of next generation mobile handsets and other terminal devices."
"GCT Semiconductor continues to demonstrate leadership in the wireless industry with its unique CMOS RF expertise, and has shown great success and capability as a key player with leading handset solutions for W-CDMA, PHS, and mobile TV technologies," said Jack Umezu, President and COO of JAIC America. "JAIC is very optimistic about GCT's potential as they tap into new and exciting markets such as W-CDMA/Edge and the emerging ISDB-T/DVBH mobile TV space."
About DoCoMo Capital
DoCoMo Capital, Inc. is a wholly owned U.S. subsidiary of NTT DoCoMo, Inc. (NYSE:DCM), the leading wireless network operator based in Japan. Working closely with NTT DoCoMo's business and R&D divisions, DoCoMo Capital is in charge of NTT DoCoMo's strategic investments in mobile communications related start-up companies mainly in the United States. For more information, visit www.docomo-capital.com.
About JAIC America
JAIC America was established in January 1999 as a fully owned subsidiary of Tokyo-based JAIC (Japan Asia Investment Co. Ltd.). With its extensive networks and over 20 years of experience in the Japanese and Asian venture capital sectors, JAIC America is in the position to forge strong connections for American industry in Asia. For more information, visit http://www.jaicamerica.com.
About GCT Semiconductor, Inc.
GCT Semiconductor is a leading fabless semiconductor company that produces innovative integrated circuit solutions for the wireless communications industry. With its proven radio frequency (RF) CMOS and system-on-a-chip (SOC) expertise, GCT provides state-of-the-art single-chip CMOS RF transceivers, mobile digital TV receivers and Mobile WiMAX solutions serving 3G and 4G mobile system manufacturers by reducing BOM cost, lowering power consumption and minimizing total solution size. For more information, please visit www.gctsemi.com.