Kingdom for a Norse as PragmatIC crowns growth
Nordic Semiconductor chair, Birger Steen, has joined the board of PragmatIC Semiconductor in Cambridge which recently raised $80 million growth capital.
His appointment signals a fresh period of expansion as the company scales UK facilities and pushes evolving technology into more global markets.
Steen steers multiple technology businesses including Internet of Things pioneer and global Bluetooth LE market leader Nordic Semiconductor ASA, business network innovator Pagero AB and German care technology leader myneva GmbH.
He is also a thematic partner at Summa Equity’s tech-enabled transformation team where he invests and works with companies that deploy technology to solve global challenges.
Previously he was CEO at Parallels, Inc. and held senior roles at Microsoft Corporation including VP of Worldwide SMB and Distribution and general manager of Microsoft Russia and Microsoft Norway.
As we recently reported, PragmatIC unveiled plans for its second FlexLogIC® fabrication line, located in the North East of England, to expand capacity in order to meet the rapidly growing demand for its ultra-low-cost flexible integrated circuits.
This expansion is supported by the $80m funding, which will also allow the team to more than double in size over the next 12 months.
PragmatIC CEO Scott White said: “Birger brings an in-depth understanding of the global semiconductor market and his wide experience in leading advanced technology companies will be crucial during our next stage of growth.
“Birger also joins a select group of individual investors in PragmatIC who, along with our institutional and corporate shareholders, allow us to continue building the business as a major independent semiconductor foundry, extending electronics into markets previously not possible with traditional silicon chips.”
Steen is a fan of PragmatIC’s blueprint for growth. He said: “PragmatIC has a truly disruptive vision for their innovative flexible chip. Its strategy for geographically distributed semiconductor fabrication offers customers the ability to take control of critical supply chains while also quickly responding to market trends and creating new, innovative solutions that solve some of the biggest global problems we are facing today.”
• PHOTOGRAPH: Richard Price CTO (left), Erik Langaker Chair (right) and Scott White CEO (second from right) with Birger Steen, who joins PragmatIC Board of Directors. Image courtesy of PragmatIC Semiconductor.