- Posted by Metavallon VC Team
- On May 4, 2020
Metavallon VC announces that its IP-licensing, semiconductor technology portfolio company Think Silicon® has been acquired by Applied Materials.
Think Silicon’s executive team and staff will remain in Patras and Athens and continue serving their growing international clientele and working on their ambitious technology and product roadmap in the electronics and semiconductor products. The transaction marks the largest deep tech startup exit ever in Greece.
Think Silicon, headquartered in Patras, Greece, develops and licenses high-performance, ultra-low-power GPUs and display controller technology for wearables, IoT, home appliances and industrial automation displays, serving clients worldwide. It has recently been expanding its product line to AI-oriented GPUs, as customers require low power AI processors for Edge Computing.
Applied Materials based in Santa Clara, California is the global leader in materials engineering solutions used to produce virtually every new computer chip and advanced display in the world and is one of Fortune’s “World’s Most Admired Companies”. It is present in 18 countries with over 22.000 employees globally, holds over 13.300 patents and invested $2.1bn in R&D last year.
Applied Materials’ acquisition comes as a vote of confidence for the rising Greek startup and Venture Capital ecosystem. Think Silicon is a remarkable example of talented and visionary founders who have built great teams to develop leading technology for the global semiconductor industry. In choosing Greece to expand a global R&D network out of, the company also affirms the world class Greek talent and R&D capabilities; while Metavallon’s investment is further proof that Greek VC funds along with individual investors are on the right track in supporting founders and facilitating for successful exits that involve global technology leaders.
Myrto Papathanou, Partner at Metavallon VC, stated: “We are excited about Think Silicon’s acquisition, setting the team on a new, exciting growth path. We believe our investment and support contributed decisively to Think Silicon’s rally in the last year and eventual trade sale. Attracting interest from a world leader is a vote of confidence in the Greek deep tech ecosystem and proof positive of Greek talent, R&D capabilities and startup success. It is also a validation of our investment strategy.”