STS (Netherlands) - Nov 2007

Kennet Partners has completed a $6m financing round in STS, a Dutch supplier of wireless audio chips for the consumer audio market. The deal was introduced to the investors by Michael Kay, a semiconductor executive they have known for many years. Kennet is the first institutional investor in STS.

Company

Founded in 2003, STS develops and markets proprietary wireless audio chipsets to consumer electronics manufacturers. The high bandwidth, low latency chips and modules deliver multi-channel uncompressed audio to wireless headsets, speakers and iPod docking stations. More than 40 million integrated DVD systems, portable audio docking systems, amplifiers and speakers are sold annually, but only a fraction of them incorporate wireless capability. This represents a large untapped market for STS. Headquartered in Amsterdam, the company is rapidly expanding, with offices in Europe, the US, Singapore and Japan.

People

As part of the investment, Michael Elias and Eileen Tanghal of Kennet will join the board of directors of STS’s parent company, Wireless Audio IP BV. Reinier Winter is the CEO and Hans Van Leeuwen is the CTO of STS.

Advisers

Debt - Bird & Bird, (Legal)

Sourced from: Benelux unquote" 54 (Nov 2007)

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• Topics
• Benelux
• Early-stage
• Industrials
• Netherlands