Central regions | Finance, business | Technology & innovation
Russians out, Intel in: state firms “gainfully” exit innovative CPU developer
3 Mar '17
RVC, Russia’s fund of funds for innovation, and Rusnano, the largest Russian government-owned nanotech corporation, have successfully exited Soft Machines, a special architecture chip developer. It’s Intel that has bought their shares, portal Firrma.ru reported.
The portal quoted Indian source Inc42 as reporting that Intel had paid $300m in cash and equity. How much the two Russian ex-stockholders have earned has yet to be specified; it’s only been leaked that both gained considerably in dollar terms.
Rusnano invested a total of $14m in Soft Machines over a two-year period. The RVC investment has yet to be announced.
Soft Machines has raised a total of $220.9m in its rounds of funding from five investors, including Samsung Electronics and AMD.
Soft Machines develops new CPUs built on Virtual Instruction Set Computing (VISC) architecture which is said to boost IPS characteristics per watt of power consumed. The company operates in the U.S., India and Russia, licensing production and teaming up with other companies for the development of VISC-based products for the Internet of Things, mobile communications and cloud computing markets. Soft Machines is headquartered in Santa Clara, California.