Intel Capital invests in Jordan Valley Semiconductors

In return, Intel Capital will receive a "significant stake" in Jordan Valley, which is controlled by Elron Electronic Industries Ltd.

October 17, 2007 07:59
2 minute read.

Intel Capital, the global investment organization of chip giant Intel Corp., said Tuesday it is the sole investor in an $11 million round of funding into Migdal Ha'Emek-based Jordan Valley Semiconductors Ltd., a company that develops tools for semiconductor metrology based on X-ray technology. In return, Intel Capital will receive a "significant stake" in Jordan Valley, which is controlled by Elron Electronic Industries Ltd. "Intel Capital has a strong history of investing in Israel," said Arvind Sodhani, president of Intel Capital. "A great deal of innovation is being fostered in this region and Jordan Valley represents a financially attractive investment opportunity that falls in line with our strategy to invest in pioneering technology worldwide." Intel Capital has invested approximately $230m. around the world so far this year, with 62 percent going towards non-US based companies. "Jordan Valley provides a very exciting addition to our portfolio," Heiko von Dewitz, investment director of Intel Capital in charge its semiconductor investments in Europe and Israel, told The Jerusalem Post. "Semiconductor manufacturing is an industry with an ever growing demand for innovation, which creates huge growth potential for breakthrough technologies. Intel Capital's investment in Jordan Valley aims to take advantage of such an opportunity with X-ray metrology having reached an inflection point for broad industry adoption." According to Steve Gray, a senior investment manager of Intel Capital in Israel, the company has invested approximately $150m. here over the last 10 years. "There are some years where we invest more and some less, but we expect to continue to put money in Israeli companies in the future," he said, noting that the investment in Jordan Valley follows a number of investments in Israeli technology companies over 2007, including Eternity and Jajah. "We don't look at our budget and determine how much we can invest, but we take a look at the marketplace and see what opportunities are there - Jordan Valley was attractive to us." The latest Intel funding project is a "late-stage" investment that is aimed at assisting Jordan Valley to further develop its operations. "Working with Intel Capital significantly increases our profile in the industry and enables us to take full advantage of existing and new growth opportunities. From our perspective, this can only help to further expand our leadership position in the market while enabling us to accelerate technology and product development," said Isaac Mazor, CEO of Jordan Valley. The advanced X-ray metrology solutions from Jordan Valley enable accurate and precise measurements for various thin-film applications in semiconductor manufacturing, and drive new advancements for the technology industry.

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