SOURCE: Provigent Inc.

May 03, 2007 08:05 ET

Ray Stata to Join Provigent's Advisory Board

Stata Venture Partners Investment Increases Provigent Fourth Round to $17M

SANTA CLARA, CA -- (MARKET WIRE) -- May 3, 2007 -- Provigent, a leading provider of System-on-a-Chip (SoC) solutions for the broadband wireless transmission market, announced today that Mr. Ray Stata, the highly regarded co-founder and chairman of Analog Devices, will join its Advisory Board.

In addition Stata Venture Partners will contribute funding to Provigent's forth-round of financing which will increase to $17 million. Stata Venture Partners joins Provigent's existing world-renowned technology investors: Sequoia Capital, Pitango Venture Capital, Globespan Capital Partners, Ascend Technology Ventures, Magma Venture Partners, Delta Ventures, and Dr. Andrew Viterbi, co-founder of QUALCOMM.

"Provigent is addressing an exciting market opportunity by establishing a new level of silicon integration and algorithm innovations within the wireless transmission market," stated Mr. Ray Stata. "The economies of scale and the benefits of specialization which Provigent leverages as a merchant silicon provider are key drivers behind its success. I am pleased to contribute from my experience and help provide guidance for Provigent's continued growth," concluded Mr. Stata.

"We are excited to have a world-renowned industry leader such as Mr. Ray Stata join our Advisory Board," stated Dan Charash, Provigent's CEO. "His involvement and guidance are of great importance to all of us at Provigent. With Mr. Stata's help and with the funding provided by Stata Venture Partners we will strengthen Provigent's leadership position and accelerate our growth."

Provigent's field-proven, mass production SoC solutions offer significant system level enhancements while lowering overall system cost. With an established economy of scale, significant R&D investments and a focused dedication to the broadband wireless transmission industry, Provigent continues to establish itself as the market's leading SoC provider.

About Provigent

Provigent is the leading supplier of SoC solutions for the broadband wireless transmission industry. More information is available on the Web at www.provigent.com or via e-mail at info@provigent.com.

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