Tuesday, November 18, 2008

Ambric Shuts Down, Looks For Buyer

Beaverton, Oregon-based Ambric, a developer of semiconductors for parallel processing, said Tuesday that it has been unable to secure additional financing, and is suspending all operations. According to the firm, the only operations left at the firm are those associated with the sale of the company or fulfillment of existing customer production requests. Ambric was developing semiconductors for massively parallel processing, which the firm says were several times faster than what is available on current DSPs and FPGAs. Ambric was venture backed by Northwest Technology Ventures, OVP Venture Partners, and Comventures (now Velocity Interactive).