GCS secures $17.5 million in financing
"The strength of GCS technology and proprietary world-class foundry process is evidenced by the substantial backing of our new and existing investors," said Dr. Owen K. Wu, CEO and President of GCS. "This round of financing should see GCS through to profitability and an eventual IPO. GCS will utilize these funds for the acquisition of tools to further enhance technological and manufacturing capabilities essential to our company s success." Continued Dr. Wu.
T.J. Huang, President of TCW/YFY Investment Partners, will join GCS s board of directors. Huang said, "We are very impressed with GCS proprietary technology, strong management team, and diversified customer base. We believe rapid technological advancements in wireless and networking IC manufacturing creates strong demand for foundry services, and we are confident that GCS will be the leading foundry in the III-V compound arena." TCW/YFY manages US$710 million for cross-staged investments in semiconductors, information technology and communications in Asia and the US. It is a key investor in semiconductor design firms and foundries, including WSMC in Taiwan, merged by TSMC in 2001, and SMIC in China.
GCS has been qualified by four major customers as an InGaP HBT production foundry. Its proprietary world-class InP HBT (Indium Phosphide Heterojunction Bipolar Transistor) foundry process supports 40Gb/sec data rates for OC-768 and PA s (Power Amplifiers) for 3G handsets and millimeter-wave frequency transceivers. In the past month GCS has made significant progress in their proprietary InP HBT foundry process and InGaAs mesa PIN photodiode process for 1310 nm and 1550 nm high-speed optical fiber communication applications.
Bill Vitez
Director of Marketing and Sales
Tel: +1 310-530-7274 x 714
Fax: +1 310-517-8201
E-mail: bvitez@gcsincorp.com
Web site: http://www.gcsincorp.com
