NewMedia SPARK PLC
21 March 2000
NewMedia SPARK invests £2,000,000 in ASP
Technology International Ltd.
NewMedia SPARK plc ('SPARK') announces that it has agreed to
invest £2,000,000 for a 21.1 per cent. stake in ASP
Technology International Ltd.
Key Points
* ASP Technology International Ltd. ('ATI') is a fabless
semiconductor company designing Integrated Circuit ('IC')
devices for the digital image processing market.
Applications include computer vision, scanning and sensing.
* The Company will use the investment to establish a
marketing and sales infrastructure in the USA and expand the
market and sales operations in the European Union.
* The Company offers unique very high-performance cost-
effective programmable ICs and boards into industrial,
medical and scientific markets and it will expand its
product range into the office equipment digital imaging
markets.
* The Company is positioning itself to enter - with a
proven technology - the emerging consumer markets for
Internet appliances and digital interactive television with
programmable designs for digital image content creation,
delivery and display.
* Last summer, the Company's technology was used in the
creation of a visualisation workstation with the highest
known performance for the US Naval Research Laboratory in
Washington, D.C.
Commenting on the investment, John Bolitho, Assistant
Director of NewMedia Investors, Adviser to SPARK, said:
'We are pleased to have arranged an investment in ATI on
behalf of SPARK. Over the past 10 years, the founders have
developed a very interesting suite of intellectual property
and products in the area of parallel processing. As
convergence of telecommunications and computing is driving
increased demand for this sort of application, we believe
the time is right for this technology to be commercialised.'
John Lancaster, CEO and Co-founder of ASP Technology
International Ltd., said
'Processing of visual information will be the key to next
generation Internet appliances. With this investment the
company will provide the market with the enabling technology
for such products. We are delighted to be working with
SPARK at this exciting stage in our company's growth.'
David Lee, formerly of Acorn plc, will be joining the Board
as non-executive Chairman. John Bolitho will be joining the
Board as a non-executive director representing SPARK.
ASP Technology International Ltd. is the 24th investment
announced by NewMedia SPARK since its shares began trading
on the Alternative Investment Market on 28th October 1999.
For further information please contact:
Michael Whitaker 0468 555944
NewMedia SPARK plc +20 7851 7777
Lisa Baderoon / Tim Anderson
Buchanan Communications +20 7466 5000
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.