SAN JOSE, Calif. After nearly going under, Cradle Technologies Inc. has secured some funding to sustain its operations, according to an analyst.
As reported, Cradle Technologies (Sunnyvale, Calif.), which is developing and selling a multicore digital signal processor (DSP) line, recently cut its workforce in preparation to sell the company.
The company still remains in operation and has not been acquired yet, said Will Strauss, president of Forward Concepts Co. (Tempe, Ariz.), a market research firm.
Suhas Patil, a board member, led the company in obtaining some funding at the 11th hour, Strauss said. ''Patil and the board have some new backing,'' Strauss said.
The funding could be a temporary measure until the company generates more sales with its DSP line. An eventual acquisition could also be in the cards, he added. Patrick Soheili, president and CEO of Cradle, declined to comment.
Cradle Technologies, a fabless semiconductor company, claimed to have developed the world's first multicore DSP for next-generation multimedia applications. Cradle pioneered the multicore concept with the CT3400 chip. Its newer CT3600 family includes three products from eight to sixteen DSP processors on a single chip.
''It's a pretty neat architecture,'' Strauss said. ''The interesting thing about Cradle is that they are actually shipping product.''