EZchip Technologies secures additional funding

Sept. 13, 2006
SEPTEMBER 13, 2006 -- The credit line facility consists of a $4-million loan for up to three years, which may be increased to $6 million upon achievement of certain operational milestones.

SEPTEMBER 13, 2006 -- EZchip Technologies Ltd., a fabless semiconductor company providing high-speed network processors, has secured a credit line of $4 to $6 million from Plenus Venture Lending.

The credit line facility consists of a $4-million loan for up to three years, which may be increased to $6 million upon achievement of certain operational milestones.

"This additional financing will help EZchip to realize its roadmap and business plan while minimizing shareholder dilution," reports Dror Israel, CFO of EZchip. "With a substantial design-win base dominated by leading tier-one system vendors, a strong roadmap, and a solid financial foundation, we feel confident that EZchip is on track for a significant share of the growing NPU market, targeted at the booming Carrier Ethernet market."

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