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GEO Semiconductor Completes $13 Million in Additional Equity Funding



  GEO Semiconductor Completes $13 Million in Additional Equity Funding

    Funding Will Enable Acceleration of New Product Development Activities

Business Wire

SANTA CLARA, Calif. -- April 16, 2013

GEO Semiconductor Inc. (“GEO”), the industry leader in high performance,
geometric processing and CODEC video processing solutions, today announced
that it has completed a $13 million funding consisting of convertible debt and
preferred equity financing from existing and new shareholders, including
Panasonic Corporation.

The completion of the financing, following GEO’s December, 2012 acquisition of
Maxim Integrated Products, Inc.’s digital video business, will allow GEO to
accelerate its product development efforts. GEO expects to launch a new eWarp
IC in the second quarter and one new CODEC IC later in 2013. These new 40 nm
ICs are focused on Cloud/IP cameras, Smart/SkypeTV, automotive cameras and
HUDs, surveillance, video communications and smartphone peripherals. The new
CODEC device will feature an internal eWarp geometric processor core to enable
single-chip solutions for wide FOV (field of view) video camera communications
applications.

GEO’s Chairman and CEO, Paul Russo, commented, “We are delighted to have
completed this funding which enables us to now enter the growth stage of GEO’s
evolution. With 50 customers in production, 90 employees, 100 patents, 6 ICs
already in volume production (and two new SoC’s on the way), GEO is poised to
become a rapidly growing profitable company bringing unique and pioneering IP
to rapidly evolving high-growth emerging markets.”

About GEO Semiconductor

GEO, with over 100 patents and patent applications, is the industry leader in
programmable, high performance geometric processor ICs featuring the highly
acclaimed and patented eWarp geometric processor, H.264 CODECS, as well as
video, audio and human interface technologies. GEO is focused on smartphone
peripherals, automotive cameras & HUDs, Cloud Cameras and Smart/Skype TV
communications as well as surveillance & video communication markets. GEOs
highly patented eWarp platform technology features the lowest power and
silicon cost for performing unlimited pixel transformations such as de-warping
wide-angle, fisheye and 360 degree video streams and enabling automated
digital camera and HUD calibration. GEO’s Emmy Award winning Realta platform
technology, featuring real-time processing of video algorithms in software
(trillions ops/sec) enables ICs that can perform Hollywood-proven video
processing in software and in real time on a single device. GEO’s leading
H.264 CODEC and human interface ICs (including gestures and voice recognition)
are already in volume production with over 40 customers worldwide, offering
complete sophisticated software stacks for Cloud Cameras and SkypeTV. GEO’s
complete software stacks allow customers to reach production in as little as
six months from design start. GEO is headquartered in Santa Clara, California
with offices in Bangalore (India), Cambridge (UK), Toronto (Canada) and
Orlando (Florida), and sales channels around the world. www.geosemi.com.

GEO Semiconductor and the cube logo are among the trademarks of GEO
Semiconductor Inc. Any other trademarks or trade names mentioned are the
property of their respective owners.

Contact:

Company Contact:
GEO Semiconductor Inc.
Paul Russo, Chairman & CEO, 408-844-8800
paul@geosemi.com
or
Investor Relations:
Shelton Group Investor Relations
Beverly Twing, 972-239-5119 x126
btwing@sheltongroup.com
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