Cambridge UK, 6 February 2002 – The original management team of Nexus has bought back the hardware business of FutureTV, a developer of interactive television services, to form Nexus Electronics, a new engineering and design consultancy.
The new company will focus on the development of ASIC chips for multimedia applications, including set-top boxes. The hardware design team has a track record of successful ASIC developments for customers such as ARM and Psion. As part of the deal, Nexus Electronics has secured the rights to the hardware designs built at FutureTV.
Nexus Electronics Chief Executive, Julian Brown, and technical director, Giles Hutchison, were the two Nexus founders and led the buy-back team. FutureTV agreed to divest the hardware side of its business to enable it to focus on developing open platform software for personalised media services, initially for the television market via cable and DSL.
“Nexus has developed a fantastic reputation amongst a blue-chip client base for the quality and inventiveness of its work in ASIC design. The Nexus design team has unrivalled expertise and experience in ASIC design around the ARM microprocessor core which we intend to leverage to design next generation electronic product for our clients, and for ourselves,” said Giles Hutchison, technical director, Nexus Electronics.
“The time with FutureTV was superb for us as a team. We added new people and experience in managing complex multi-disciplinary teams. This valuable expertise will carry forward into Nexus Electronics,” said Julian Brown, chief executive, Nexus Electronics.
Nexus was originally acquired by FutureTV for million in 1999. The Nexus design team had developed a range of digital broadcasting hardware for customers including FutureTV, including streaming media servers, set-top boxes and network switches for operating an interactive TV network.
The Nexus Electronics team is recognised as one of the leading hardware and software design teams for the ARM platform. It has completed more than a dozen projects around the ARM and StrongARM cores including an operating system for embedded control, a set-top box, a media server, a network computer, an Ethernet bridge, a control computer for 'creature animation' used in the film Teenage Mutant Ninja Turtles and an ink jet printer development system.
- ends -
This press release was distributed by ResponseSource Press Release Wire on behalf of Speed Communications in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.