today announced the start of a third financing round, seeking $20 million, and an alliance with
The scope of the deal was not disclosed, but it is believed to be worth several tens of millions of dollars, spread over several years. Comsys will provide TI with software to process digital signals. The software is designed to be the engine of "physical layer EDGE" cellular modems.
Such modems are supposed to operate at 470 kilobytes per second -- 50 times the speed available on cellular networks today.
Texas Instruments provides DSP solutions for over 60% of cellular phones produced worldwide.Ron Cohen and Eli Plotnik founded
Comsys in 1995. It employs 45 at its Herzliya facility and expects to expand to 100 workers next year.
Among the company¿s shareholders are
Polaris Venture Capital
, Eitan Wertheimer¿s
, also a Comsys client, and CEO Giora Yaron (a founder of
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