CORK, Ireland and TORONTO, Canada, July 17, 2012 /PRNewswire via COMTEX/ -- RedMere Technology Limited and Fresco Microchip Inc. today announced that they have entered into a definitive agreement to merge with Chrysalis Capital VIII Corporation to create Spectra7 Microsystems, a soon to be publicly traded company on the TSX Venture Exchange.
Spectra7 will be a high performance analog semiconductor company focused on delivering unprecedented bandwidth for mobile infrastructure and consumer products. The company is expected to raise over $10 million in equity, including investments from leading venture capital firms, such as Celtic House Venture Partners, EdgeStone Capital Partners and Ventures West.
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