EON Communications secures £265m package
TD Capital Communications and Madison Dearborn Partners are the lead investors in a £265m early stage financing round in EON Communications, a broadband communications company. The venture capital firms invested £57m and £20m respectively.
GE Capital Telecom joined in with £10m, and Incepta Partners committed £13m. A debt facility worth £155m was provided by Bank of Scotland and TD Securities.
EON will use the money to start developing the digital network via which it intends to provide businesses and households in Northern England and Scotland with internet access, interactive television and high-speed data services.
Banexi, Soridec renew commitment to SI Automation
SI Automation, a French software company, has completed a second round of financing. A total of E4m has been raised from Banexi Venture Partners, Societe Generale Asset Management, Credit Lyonnais Venture Capital and Soridec.
Banexi and Soridec had already participated in the first funding round for the company. The cash will be put to work to develop SilverBox, a product aimed at the semiconductor industry.
Prelude funds Alphamosaic spin-off
Prelude Trust has provided $9m in venture capital to help Alphamosaic, a UK designer of fabless semiconductor chips for mobile video, spin itself out off Arthur D. Little, the consultancy.
The cash is meant to fund further product development. Prelude’s Alan Duncan, a director, will take up a seat on Alphamosaic’s board. The business was set up last May at Cambridge Consultants, Arthur D. Little’s technology division.