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Intel Corp.

Intellon Raises $24.5 Million in New Equity Financing Led by BCE Capital

Strategic Insights

— 2 min read

Ocala-based Intellon Corporation, the leading provider of HomePlug-compatible integrated circuits for home networking, networked entertainment, and connected powerline applications, has secured $24.5 million in new equity financing. The investment round was led by BCE Capital, affiliated with Bell Canada, Canada's largest communications company, and joined by Goldman, Sachs & Co., Intel Capital, and Motorola Ventures.

Intellon will utilize the funds to continue its growth and accelerate the deployment of its next-generation HomePlug(R) AV compatible integrated circuits. The company's HomePlug AV ICs will enable whole-house distribution of high-definition video and digital audio over existing home electrical wiring and coaxial cable, with robust quality of service and tight control of latency and jitter.

"This new round of funding will help Intellon capitalize on the continuing growth of the powerline communications market," said Charlie Harris, Chairman and CEO of Intellon. "We are pleased to add BCE Capital, Goldman Sachs, Intel Capital, and Motorola Ventures as new investors in Intellon."

Key Takeaways:

  • Intellon has secured $24.5 million in new equity financing led by BCE Capital.
  • The investment will be used to continue the company's growth and accelerate the deployment of its next-generation HomePlug(R) AV compatible integrated circuits.
  • Intellon's HomePlug AV ICs will enable whole-house distribution of high-definition video and digital audio over existing home electrical wiring and coaxial cable.
  • The company has a strong track record of innovation, having created and patented the baseline technology for HomePlug 1.0 and being a major contributor to the new 200-Mbps HomePlug AV powerline standard.
  • Intellon has sold over two million HomePlug ICs and holds the dominant market share of the rapidly growing HomePlug market.
  • BCE Capital invests in and develops emerging growth communications and information technology companies in North America.
  • Goldman Sachs is a leading global investment banking, securities, and investment management firm.
  • Intel Capital has invested over $4 billion in approximately 1,000 companies worldwide since 1991.
  • Motorola Ventures invests in developing companies of strategic value to Motorola in order to accelerate access to new technologies, new markets, and new talent.

Statistics:

  • $24.5 million - the amount of new equity financing secured by Intellon.
  • 6 continents - Intellon's HomePlug 1.0 compatible ICs are already being used on for home networking, broadband over powerline (BPL) and commercial applications.
  • 2 million - the number of HomePlug ICs sold by Intellon.
  • 200-Mbps - the speed of the new HomePlug AV powerline standard contributed to by Intellon.
  • 1,000 - the number of companies invested in by Intel Capital since 1991.
  • $4 billion - the amount of investment made by Intel Capital in companies worldwide since 1991.

Sources:

  • BCE Capital: BCE Capital is a leading Canadian venture capital firm with a track record of investing in and developing emerging growth communications and information technology companies in North America. Fund IV is a US $200 million fund focusing on early-stage communications and IT companies. [1]
  • Goldman Sachs: Goldman Sachs is a leading global investment banking, securities, and investment management firm. [2]
  • Intel Capital: Intel Capital has invested over $4 billion in approximately 1,000 companies worldwide since 1991, with about 160 portfolio companies being acquired and another 150 going public on various exchanges around the world. [3]
  • Motorola Ventures: Motorola Ventures invests in developing companies of strategic value to Motorola in order to accelerate access to new technologies, new markets, and new talent. [4]
  • Intellon: Intellon Corporation is the world leader in standards-based integrated circuits for powerline communications, providing HomePlug(R) compliant and other powerline integrated circuits for home networking, networked entertainment, broadband over powerline (BPL) access and commercial applications. [5]

References:

[1] BCE Capital - http://www.bcecapital.com

[2] Goldman Sachs - http://www.goldmansachs.com

[3] Intel Capital - http://www.intel.com/capital

[4] Motorola Ventures - http://www.motorola.com/ventures

[5] Intellon - http://www.intellon.com

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