Staccato Merging with Artimi
Staccato Communications, a San Diego-based developer of ultrawideband and wireless USB communications components, has agreed to merger with Artimi Ltd., a Santa Clara, Calif.-based fabless semiconductor company developing single-chip solutions for high bandwidth wireless connectivity based on UWB. The deal is structured as a 50/50 stock swap, plus $20 million in a new round of equity funding from existing investors of both companies. Staccato had previously raised around $94 million from firms like Allegis Capital, Bay Partners, Charles River Ventures, Formative Ventures, Interwest Partners and Vision Capital. Artimi had raised over $50 million from Accel Partners, Amadeus Capital Partners, Index Ventures, Khosla Ventures, Oak Investment Partners and Bank of Scotland Growth Equity.
