December 16, 1998 - Silicon Systems Limited (SSL), the Dublin
based semiconductor design and intellectual property company, is pleased
to announce that GS Capital Partners III, L.P., and other investment
partnerships affiliated with Goldman, Sachs & Co. have acquired a 23
per cent shareholding in SSL.
Commenting on the investment, Brian Long, Chief Executive Officer of
SSL said: "This capital injection will enable the company to grow further
at an accelerated pace. Goldman Sachs is the leading international
investment bank in the field of high technology and its investment will
strengthen the Company's position as a world leader in semiconductor
design in the microelectronics industry."
Goldman Sachs International Executive Director, Paul Harvey, Co-head of
its European High Technology Group has joined the SSL Board. Other Board
members are Co-Founders Brian Long, CEO and Peter McManamon, CFO, Dr.
Michael Peirce, CEO of Mentec Ltd., and Bill McCabe, Chairman of CBT Group
"SSL is one of the leaders in the development of semiconductor
intellectual property, and particularly strong in Analog and DSP
technologies," said Charles Elliott, Goldman Sachs International, European
Technology Research Analyst.
Speaking to SSL management and senior staff last Friday, Peter
Sutherland, Chairman of Goldman Sachs International, expressed his
enthusiasm for the investment and said that he looked forward to Goldman
Sachs working alongside SSL in the coming years.