|yep - shame really.
Back in May Phy shipped the 30 Millionth chip - a success story for UK Technology PLC. I hope the founders manage to get out with decent $ and do it again for the sake of the wealth creators in this country.
|Stake bought by PDT for 2.5 mio, exit price around 5.8 mio.|
|Phyworks has been sold for a decent figure around $70M.|
|Many thx Orange1. I don't really bother keeping up, except for looking at ZBD occasionally as I had a fondness for it. Glad to see Displaylink doing OK. Sciona was predictable! I think PDT did well by shareholders getting out when they did, though long-term who knows. I suspect in the current climate many investee companies will have had to fundraise and therefore dilute etc.
I did come across this re Xmos which indicates it's doing well - could be a big winner still?
"XMOS foresees soaring sales, expects break even in 2010
By Peter Clarke
Page 1 of 2
Courtesy of EE Times Europe
(06/24/2009 9:37 AM EDT)
LONDON - Startup XMOS Semiconductor Ltd. (Bristol, England), a vendor of event-driven processor chips, is enjoying a sales boom that will see the company move from shipping over 50,000 units a month at present to hundreds of thousands of units per month by the end of 2009, according to CEO James Foster.
"We expect to break even next year, within five years of founding, which is remarkable," he said."|
Polatis Raises $8M
New CEO Gerald Wesel and telecom industry veteran Niel Ransom, PhD, join Board
ANDOVER, MA and CAMBRIDGE, UK June 2, 2009 - Polatis, Inc. the performance leader in all-optical switch technology, has raised $8M in venture capital. The funding was by existing investors 3i Ventures, Alta-Berkeley Ventures, DFJ Esprit, Flagship Ventures, Gainesborough & Peponi Investments, JK&B Partners, and Massachusetts Technology Development Corporation. With the financing, Polatis' new President and CEO Gerald Wesel and senior advisor Dr. Niel Ransom have joined the Board of Directors, further strengthening the executive management team following the appointments of sales veteran James Miller as VP of Sales and Martin Stephenson as CFO last year.
"We very much appreciate our investors' strong support," said Gerald Wesel, who was named CEO in January 2009. "There is increasing demand for all-optical products in the markets we serve. The investment enables us to create further demand for our existing products by expanding worldwide channel partners; and to accelerate the development of solutions that scale to the largest deployments while maintaining superior performance and reliability characteristics."
The shift from copper to fiber networks in many areas of enterprise and telecom access networks enables the deployment of all-optical switching technology for performance improvements and simplification as well as cost and environmental efficiencies. Polatis all-optical products operate at the transport layer of fiber networks, providing the intelligent foundation for switching massive amounts of data traffic in a precise and automated way. It develops and manufactures the industry's highest performance, lowest loss all-optical switches that scale to the largest networks in telecommunications, data center, government & defense, and test & measurement markets.
"One of the brightest spots and fastest growing areas of the telecom equipment market is and has been optical equipment. Perhaps this market has been obscured by industry fixation on Cloud - but whatever the reason - service providers are realizing that the days of SONET/SDH are numbered and now is the time to start investigating and investing in next generation infrastructure that will meet the needs of the converged quadruple-play networks, including the mobile network traffic that Yankee Group sees increasing at an astounding CAGR of 140% through 2012," said Jennifer Pigg, vice president at Yankee Group
New Board member Dr. Niel Ransom, a veteran of the telecommunications market, has served strategic technical and architectural roles at Bell Laboratories and Bell South, and most recently held the position of CTO at Alcatel. He is an advisor to service providers and equipment providers, and sits on the Boards of several private technology companies. Gerald Wesel noted, "Dr. Ransom brings tremendous value to the Board as we broaden our footprint in new strategic markets."
Polatis develops and manufactures the world's lowest loss optical switching products for government and defense, telecommunications and data center, test & measurement and video broadcast markets. Through a unique combination of proven technologies and new, innovative architectures, Polatis has achieved class-leading performance and reliability that solve some of today's toughest optical networking challenges. Polatis all-optical switching products are proven in more than 500 networks all over the world.|
|GreenPeak (ex Xanadu) doing well:
Utrecht, The Netherlands, 29 October 2009 - GreenPeak Technologies, a leading fabless semiconductor company offering innovative ultra low power wireless and battery-free data communication technologies for consumer electronics and sense and control applications, today announced the closing of a Series B financing round. This financing round totaling 13 ($19) million of venture funding, led by Gimv and Robert Bosch Venture Capital and supported by DFJ Esprit, Motorola Ventures and Allegro Investment Fund will provide the
company with the necessary funds to finance its growth in the coming years.|
|Whoops! Letter from the Federal Trade Commission dated 14.8.09:
Dear Ms. Gill,
As you know, the staff of the Federal Trade Commission's Division of Advertising Practices conducted an investigation of Sciona, Inc. ("Sciona") for possible violations of Sections 5 and 12 of the Federal Trade Commission Act, 15 U.S.C. §§ 45 and 52. The investigation concerned Sciona's promotional activities for the MyCellfTM Program, an "at home" genetic test kit and consultation service that involved the analysis of specific genetic variations (through the MyCellfTM, or CellfTM, test), a diet and lifestyle questionnaire, and health and nutrition recommendations. Specifically, FTC staff was concerned about Sciona's representations that the MyCellfTM Program could significantly impact consumers' health outcomes, including their risk of developing serious diseases, and could enable consumers to achieve long-term weight loss.
The staff recognizes that genetics-based personalized medicine, including nutrigenetics - the tailoring of diet and lifestyle recommendations to match an individual's genetic profilerepresents a promising area of scientific research. The staff was concerned, however, that evidence on gene-diet interactions is still preliminary. The diseases and conditions identified through the MyCellfTM Program involve complex bodily processes and currently there is only limited scientific understanding of the impact of genetic variations on the development of these conditions, or of the ability of dietary and lifestyle interventions to alter any of the potential effects of these genetic variations. The staff was also concerned that Sciona did not possess competent and reliable scientific evidence that the diet and lifestyle recommendations provided through the MyCeUfTM Program could result in consumers achieving long-term weight loss.
Upon careful review of the matter, including non-public information submitted to the staff, we have determined not to recommend enforcement action at this time. Among the factors we considered are Sciona's representations that the company has ceased operations and has discontinued its marketing activities for the MyCellfTM Program, including deactivating the company's websites promoting the MyCellfTM Program. We also have taken into consideration Sciona's representations that it is purging all of its customers' personally identifiable information ("PH") from its databases, including its customers' names and contact information; is destroying all customer questionnaires and Action plans; and is not selling any of its customers' PH as part of the dissolution of its business. We further understand that Sciona has destroyed its customers' DNA samples and is retaining only individual SNP (single nucleotide polymorphism) data, which cannot be used to identifY an individual consumer. Sciona is using this anonymous genetic information solely for the purpose of demonstrating the accuracy of its
instrumentation for quality assurance purposes and in accordance with federal and state standards for laboratory certification.
This action is not to be construed as a determination that a violation has not occurred, just as the pendency of an investigation should not be construed as a determination that a violation has occurred. The Commission reserves the right to take such further action as the public interest may warrant.
Very truly yours|
|Not such good news over at Sciona!:
"The tests were pulled from the market after angry scientists called them unsafe. Sciona is now undergoing a "restructuring period" and is not accepting new orders."
|Just found this on Phyworks:
(10/21/2009 9:31 AM EDT)
LONDON - Phyworks Ltd. (Bristol, England), an eight-year-old developer of mixed-signal transceiver ICs for optical and copper communications, is on the acquisition trail, according to cofounder and CEO, Stephen King.
"We are looking at a number of companies to acquire," he said during a round-table discussion on the future of semiconductor startups organized by Cadence Design Systems Inc. (San Jose, Calif.).
Phyworks is still privately held having been founded in 2001. However, the company is profitable King said and the company has been listed by the Sunday Times newspaper as the fifth fastest-growing technology company in the UK, which estimated that its sales in the 2008/2009 financial year were £5.1 million (about $8.5 million).
King let slip Phyworks' acquisition aspirations while observing that it is difficult for semiconductor startups to raise money right now and that a number of Series A or B supported startups will not get backing this time around.
For venture capital firms facing the write-off of their investment to date, a sale to another company could be a bonus. Phyworks has received investment from Add Partners, Advent Partners, Atlas Ventures and DFJ Esprit.
When asked how Phyworks as a private company would fund any acquisitions King said: "We have the possibility of raising money. We could sell-off part of our operation and self-fund. We could look to a merger. There will probably be something done."
|In May 2008 the winding-up was announced:
"On Winding-up... Shareholders would receive approximately 86p per Share under the Proposals, of which it is expected that approximately 85.2p per Share would be paid by 20 June 2008 with the balance being payable at a later date (expected to be May 2009) subject to there being no claims under the Sale and Purchase Agreement or otherwise..."
The O.8p payment anticipated then for May 2009, has become 0.924p in November 2009. Nice!
Have you continued to follow developments at the various investee companies? Displaylink has continued to do well it seems and raised $8m in Sept 09, Phyworks and ZBD have progressed too. Hard to get a handle on the profitability (if any) of these companies though.|
I've just received a second liquidation payment of 0.974p per share in my ISA. Any idea what this relates to offhand (sorry, I'm being lazy and can't be bothered to dig out the sale agreement...).
A nice (small) surprise :o))|
|m-spatial sold to mxdata. No price disclosed but I suspect that it was for less than the most recent Prelude valuation.
|Of course with the benefit of hindsight it was a good decision to sell. But the directors decision to sell was not necessarily based on their predicting the carnage that we are witnessing at present. Who knows where we would have been in say 3 years time. Displaylink is still continually hitting the headlines and ZBD seem to be making progress too.
Shall we agree to keep this thread alive and re-visit every 6 months or so to review what might have been?|
Still got it on my monitor. Despite my disappointment at the time, it looks as if the managers got it right for once. If only they had listened to us at 135p, but all in all it could have been worse.
Still got AEX unfortunately!!!
|I'm sure no-one is reading this, but it occurred to me to say well done to the PDT board in flogging off the company at what must now be seen as a great price.
Heaven knows where the share price would be now. I made a decent overall profit and am glad of it.
Many moaned endlessly about the directors, with some justification. But for example, the selling of a large stake in OXB at 25p or whatever it was looks like genius now, as does exiting the markets at just before the recession (for shareholders anyway).
Meanwhile those who moaned so repetitively and endlessly are, I notice as examples, stuck in Spark Ventures, at a fraction of former prices, or are/were heavily into Plasmon - now in wind-up mode. These were promoted as the much better alternatives to PDT. Enough said.
ZBD, DisplayLink and others still look to be doing OK, but valuations will surely have fallen markedly. I'm glad to have exited at 135p and then with the takeover, but just wanted to give a shout out to the PDT Board.|
|Cerrito - glad to hear it's not just me! Probably no bad thing I haven't had it available to re-invest - my portfolio is down 5.5% today...|
have not got it yet in my barclays|
What will you be investing in?|
|You are right. It was 84.95p|
|Can anyone confirm what the actual payment was?
It looks more like 84.95p rather than the suggested 85.2p|
|Arrived yesterday to iDealing - now just need to decide what to do with it!?!?!|
Got mine in my nominee account yesterday. On a buying spree now.|
|Have any nominee shareholders seen the "initial distribution" payment (due to have been made by 20 June) turn up in their dealing account yet? No sign of it yet for me (Barclays Stockbrokers).|
|Thanks Rivaldo et al for keeping us informed over all the years. Shame it had to end this way. Oh well you win some and.......don't do so well in others!|
|I was one of the lucky ones, would admit it was luck & not so much judgement. It hng around just over £1.10 for too long.
Can only point to mangement for this outcome.
The UK companies in the portfolio are some of the best of the best. Imho
Management ran the fund for the fee and didn't have the commercial snouse to extract maximum value nor the desire to serve PI interests.
Good luck all.|