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Printed from LocalTechWire.com
Posted: 12/31/2003 07:26 AM
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By Worth Civils, Special To LTW
RESEARCH TRIANGLE PARK – Unitive, a manufacturer of silicon chips, has secured $12.6 million in new funding to support an expansion that adds Die Level Processing to the company’s service offerings.
In addition to current engineering and design services, the new facility, due to be operational in mid-January, will offer wafer thinning, dicing, tape and reel and testing.
To support the operation, RTP-based Unitive relocated to a new 13,400 sq. ft. headquarters building in November, added 40 employees and invested $4 million in equipment. It currently employs 95 people, with plans to grow even further.
"This is in response to the needs of our customers," Unitive Chief Executive Officer Ken Donahue said of the expansion. “This means we can offer turnkey service, saving time and money for companies in the rapidly expanding Wafer Level Chip Scale Packaging market."
To finance this expansion, Unitive completed a private equity placement of preferred stock supported by current major shareholders for $6.6 million and received a term loan of $6 million in funding from GE Technology Finance, a unit of GE Structured Finance Inc.
"This funding allows us to expand our reach within the supply chains of the markets we serve," said Arthur Bergens, chief financial officer of Unitive. "The equity and debt placement once again validates our strategy in both technology and value creation for our customers."
Unitive now has raised $66.6 million, including venture funding from Durham-based Aurora Funds. The company landed $30 million in early 2001 through an equity round led by Onex Corp. Other strategic investors participating were Celestica, Conexant Systems, Fairchild Semiconductor International and Flextronics. At the time, Unitive also secured $14 million of debt financing for capital equipment.
Unitive, founded in 1997, provides semiconductor packaging solutions to the electronics industry. In addition to its RTP operations, the company has a facility in Taiwan.
Unitive: www.unitive.com
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