Technology company Silicon & Software Systems (S3) has closed a €10m investment deal with ACT Venture Capital.
The company says this investment will enable it to accelerate the development of its design solutions and capabilities. It will also support the expansion of S3's business into Asia and further development of its sales and marketing operations in Europe and the US.
As part of the deal, Philips Electronics will maintain a strategic shareholding in S3 and will continue to be a key customer and technology partner of the company.
S3 was founded in 1986 and is headquartered in Dublin with an Irish workforce of 185. It also has operations in the US, the Netherlands, Poland, the Czech Republic and the UK. It clients include Texas Instruments, Lucent Technologies, Philips, Toshiba and Sky.
ACT Venture Capital is Ireland's largest venture capital management company. It is funded by leading Irish, European and US institutional and fund of fund investors.
