LONDON Processor developer, ClearSpeed Technology, raised £11.1million through the issue of new ordinary shares and valuing the company at £31.2 million prior to its floatation on AIM on Wednesday (July 21).
ClearSpeed, which was established in 1997 and currently employs 32 people, subcontracts the manufacture, assembly, packaging, testing and shipping of its processors.
Based in Bristol in the UK with an office in Los Gatos, California the company’s processors have been designed to process very high volumes of data simultaneously at low power consumption and with ease of programmability.
ClearSpeed’s chips can be used as co-processors alongside general purpose processors and can also be used as stand alone embedded processors for certain digital signal processing applications.
The company has produced a demonstration processor, the CS301, and before the end of November 2004, it expects to announce its first commercial chip based on the architecture