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Salem, N.H.-based developer of advanced semiconductor materials AmberWave Systems Corp. is now known as AmberWave Inc., according to federal documents, which show the company has a new top executive and is embarking on new funding efforts.
According to documents filed with the U.S. Securities and Exchange Commission, AmberWave Inc. was incorporated sometime this year, after 11 years as AmberWave Systems Corp. Former vice president of research Anthony Lochtefeld is identified as president and CEO in the federal filing. Previous president and CEO Richard Faubert is still listed as a board member in the filing.
Lochtefeld declined to comment about the status of the new incarnation of AmberWave, other than to confirm it had changed its name and he was now in the top roles.
The company has raised $800,000 from a single unnamed investor, according to the SEC document. The new money will be used for general operating expenses, officials stated in the filing, including “salary and consulting fees to certain executive officers and directors in ordinary course.”
When it was AmberWave Systems, the company had raised more than $91 million over five funding rounds, including its last in July 2006 when it brought in $25 million. Backers included Adams Capital Management, TeleSoft Partners, Arch Venture Partners, 3i and The Hillman Co.
In 2007, AmberWave settled all of its strained silicon patent infringement lawsuits with California’s Intel Corp. That led to a 10-year licensing agreement with Intel Corp. regarding the California company’s use of AmberWave patents covering strained silicon. While the settlement called for Intel making license payments to AmberWave over the term of the agreement, additional terms, including financial, were not disclosed.
In May 2008, AmberWave acquired semiconductor substrate research firm Aonex Technologies, a subsidiary of Arrowhead Research Corp. of California, for $7.95 million in earn-out payments. In addition, AmberWave agreed to pay a running royalty on products incorporating Aonex’s technology.
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