Thursday, November 20, 2008
Artimi Merges With Staccato As UWB Shakeout Continues
Santa Clara-based ultra-wideband semiconductor firm Artimi has merged with a fellow UWB manufacturer, Staccato Communications, and pulled in $20M in new financing. According to Staccato, it has completed a merger with Artimi, which develops ultra-wideband and wireless USB software and hardware. The combined firm will be known as Staccato Communications. The firms have also scored $20M in funding, from existing investors, including Allegis Capital, Amadeus Capital Partners, Bay Partners, Charles River Ventures, Formative Ventures, Intel Capital, Interwest Partners, Khosla Ventures, Noble Venture Finance, Oak Investment Partners and Vision Capital. Marty Colombatto of Staccato will continue as CEO, and Andrew Vought, former CEO of Artimi, will become COO. The merger caps a turbulent month for the ultra-wideband semiconductor market, which saw the shutdown of UWB firm WiQuest Communications; the acquisition of the assets of StoneStreet One by Alereon; and the cancellation of UWB efforts by Intel.