Kennet Partners, a leading international growth equity investor focused on the technology sector, has completed a $6m financing round in STS, a supplier of wireless audio chips for the consumer audio market.
STS was founded in 2003 by CEO Reinier Winter and CTO Hans Van Leeuwen, to develop and market proprietary wireless audio chipsets to consumer electronics manufacturers. The company has demonstrated expertise in developing high bandwidth, low latency chips and modules which deliver multi-channel uncompressed audio to wireless headsets, speakers and iPod docking stations. STS chipsets underpin some of the most innovative wireless audio equipment available on the market and have been incorporated into new products that will hit the shelves of prominent retailers in the coming months.
Over 40 million integrated DVD systems, portable audio docking systems, amplifiers and speakers are sold annually, with just a fraction incorporating wireless capability, representing a significant untapped market for STS.
"STS is an excellent example of the kind of company Kennet seeks. With very little capital, the STS team has successfully designed and brought highly innovative wireless audio semiconductors to market. The company has design wins with the leading brand names in the home audio equipment market." said Eileen Tanghal, Director at Kennet Partners.
"We are delighted to welcome Kennet as our new financial partner to STS. This investment will enable us to further accelerate our growth, while expanding our portfolio of high performance, low-cost, low power, integrated chips supporting all current and nascent wireless audio applications," commented Reinier Winter, CEO of STS.
Kennet is the first institutional investor in STS. As part of the investment, Michael Elias and Eileen Tanghal of Kennet will join the board of directors of STS’s parent company, Wireless Audio IP BV.
STS is the leading specialist for Plug & Play, Real Time wireless solutions for consumer audio applications. STS' modern, universal and flexible RF technology has revolutionized the wireless communication industry. Founded in 2003, the company is the industry leader, offering a superior digital and radio silicon platform that supports the complete range of wireless products including home, portable and automotive applications. STS, headquartered in Amsterdam, The Netherlands, is rapidly expanding, with offices in Europe, USA, Singapore and Japan.
For more information: www.sts.nl
Kennet Partners is a leading international private equity firm that invests in growth companies providing information technology products and business services that leverage technology. Kennet provides expansion capital to businesses that want to accelerate growth and build exceptional shareholder value in partnership with an experienced investor. Kennet Partners acts as an advisor to Kennet I, a Jersey-based fund and to Kennet II and Kennet III, both Guernsey-based funds. Kennet Partners is authorised and regulated by the Financial Services Authority.
For more information: www.kennet.com