Siimpel Announces Investment by LG Innotek

Siimpel Corporation, a leading supplier of optical micro-electrical-mechanical systems (MEMS) based solutions for the mobile market, announced today that it has received additional investment in support of its groundbreaking MEMS technology and product development for mobile camera applications from LG Innotek Co. Ltd., Korea's leading provider of core components for cameras, display modules, and other wireless communications products. LG Innotek now joins other strategic investors including DOCOMO Capital Inc., and the venture arms of Qualcomm, Motorola, and Micron Technology.

“LG Innotek's investment in Siimpel, particularly in the midst of the current global macroeconomic situation, validates the progress we have made and the significant market opportunity for our MEMS technology,” said Chee Kwan, Siimpel's chief executive officer. “We will leverage this investment to ramp production of our most recent generation solutions, and meet the demand for higher-quality camera and video capabilities in mobile handset platforms. We are excited that we are now staged to provide digital camera capabilities including auto focus and high-speed shutter, which enable our handset customers to clearly differentiate their products.”

“Siimpel's silicon MEMS technology complements our vision to be in the forefront of next-generation technologies in our component product portfolio,” noted LG Innotek Co. Ltd. president and CEO, Mr. Young-Ho Hur. “We will leverage our business partnerships to further extend the market potential of our innovative camera solutions with Siimpel's MEMS platforms,” said Mr. Hur.

Siimpel previously announced a recent investment round with DOCOMO Capital in November 2008, which was also supported by several existing investors from leading venture capital firms including Draper Fisher Jurvetson, Portage Venture Partners, Zone Ventures, Scales Venture Partners, and SunAmerica.

The MEMS Advantage

MEMS technology significantly improves the accuracy of alignment of various mechanical structures and optics in cameras. This is important because the performance of an optical system is largely dependent on the static and dynamic alignment tolerances of the optical elements. As the optical system is reduced in size, these tolerances must be proportionately reduced in order to maintain the same optical performance. Currently, manufacturing and alignment technology constraints prevent product developers from significantly reducing the size of cameras integrated into consumer products such as mobile phones while maintaining camera features and performance. Siimpel's proprietary MEMS-based device platform solves this issue, enabling manufacturers to develop mobile handsets and other consumer devices with higher-performance, integrated cameras.

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