Gatineau, Quebec – April 13, 2007 – Diablo Technologies Inc., a privately held fabless semiconductor company specializing in the development of a competitive, power efficient, and standard-based Memory Buffer Solutions, announced today that it has secured a US.5 million venture loan from MMV Financial.
Diablo will use the proceeds from the financing to complete its product development, fund sales and marketing efforts, and finance some of its working capital needs that may occur in the future.
"Diablo has excellent expertise in ultra high speed serial interconnect technology that will be used to provide Server OEMs with a very competitive, power efficient, and ultra high speed Memory Buffer Solutions said Ron Patterson, Executive Vice President, MMV Financial Inc. “We at MMV are excited about working with the company and our investment partners to build Diablo as a leading and innovative semiconductor company."
“This financing enables Diablo to complete its product development and to begin building its sales and marketing efforts that would take it towards commercialization” said Riccardo Badalone, Co-founder and Chief Executive Officer of Diablo. “Support from prominent investors such as MMV is a great validation of our firm’s technology and business model, and we are extremely pleased to have added MMV to our high caliber group of investors.”
About Diablo Technologies Inc.
Founded in April 2002, Diablo Technologies Inc. is a fabless semiconductor company that has mixed signal expertise and specializes in ultra high speed serial interconnect. Diablo leverages its advanced serial interconnect expertise to enable its customers to develop higher complexity, standard-based products.
About MMV Financial
MMV Financial is a Toronto-based specialty finance company providing creative debt solutions directly to technology and life sciences companies across North America. MMV is backed by top U.S. and Canadian private equity firms and financial institutions including CCP Equity Partners, Caisse de dépôt et placement du Québec, NewStar Financial Inc., and Wells Fargo Company. For more information please visit www.mmvf.com.
Diablo Technologies Inc.
Tel: (819) 776-9393
MMV Financial Inc.
Executive Vice President
Tel: (416) 977-9718