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Press Releases Atlantic Bridge Ventures announces sale of GPS company for $110 million in cash. Transaction delivers exceptional return in less than twelve months for Abven. Dublin, London, Newport Beach California - December 21, 2007 - Atlantic Bridge Ventures ("ABVEN") - one of Europe's leading technology private equity firms - today announced the sale of US headquartered GloNav Inc, a leading developer of global positioning systems (GPS), to one of the worlds' top ten semiconductor companies, NXP Semiconductors, founded by Philips. The $110 million transaction, which is expected to close in the first quarter of 2008, will involve an initial cash payment of $85 million, with a further $25 million payable based on the achievement of targets. The sale will deliver an exceptional return to the GloNav shareholders, which include ABVEN, Ceva Inc. (NASDAQ: CEVA) and Glonav staff. GloNav was established by ABVEN in 2006 through the spin-out of Ceva's GPS business and merger with Californian based RFDomus Inc. ABVEN the largest shareholder, has been the sole provider of finance to GloNav since its formation. GloNav is one of the world's leading developers of GPS systems for handheld personal navigational devices and mobile phones and has achieved significant success particularly in the rapidly growing Asian mobile market. According to ABVEN Managing Partner Brian Long, the acquisition by NXP reflects the vast growth potential in this market, the strength of GloNav's technology and the quality and experience of its team. "This is a very good transaction for ABVEN and, indeed, for NXP. The global market is showing huge potential for growth and within 10 years virtually all of the world's 1.5 billion mobile phones will be GPS enabled. From our perspective, this deal is an excellent return on investment and one of the largest transactions this year in the semiconductor market worldwide" commented Brian Long. "It also reaffirms the strength of ABVEN as an investment vehicle, not alone in terms of our capacity for making sound investments in the technology sector but also the experience and strategic guidance provided by the ABVEN team to companies in our portfolio" added Mr Long. The sale is the second major transaction of the year for Atlantic Bridge Ventures and delivers exceptional returns for the fund. In June, ABVEN completed the €392m (£265m stg) acquisition of LogicaCMG's Telecoms Products business, now known as Acision, in what was one of the largest private equity fund buy-outs in the technology sector in Europe this year. About Atlantic Bridge Ventures: ABVEN, which has offices in Dublin and London, is one of the most experienced private technology investment funds in Europe, comprising a team of highly experienced technology sector leaders with a proven track record in acquisitions, exits and commitment to development of investee companies. It focuses on providing funding to companies with potential for significant impact on global markets. The team has particular expertise in providing growth equity for technology companies thereby helping them achieve global scale and profitability and driving these businesses towards successful exits either in the public markets or through trade sales. For more information visit: About GloNav Inc: GloNav is a fabless semiconductor company developing global positioning system (GPS) and other satellite navigation technologies and products. The company has the longest heritage of GPS technology in the semiconductor industry - more than 20 years experience - and leverages this into the highest sensitivity, lowest power and fastest time-to-first-fix (TTFF) semiconductor solutions available for the wireless handset and mobile consumer electronics device markets. For more information visit: About NXP Semiconductors: NXP is a top 10 semiconductor company founded by Philips more than 50 years ago. Headquartered in Europe, the company has 37,000 employees working in more than 20 countries and posted sales of EUR 5 billion in 2006. NXP creates semiconductors, system solutions and software that deliver better sensory experiences in mobile phones, personal media players, TVs, set-top boxes, identification applications, cars and a wide range of other electronic devices. About CEVA, Inc.: Headquartered in San Jose, Calif., CEVA is a leading licensor of silicon intellectual property (SIP) platform solutions and DSP cores for mobile, consumer electronics and storage applications. CEVA's IP portfolio includes comprehensive solutions for multimedia, audio, voice over packet (VoP), Bluetooth,and Serial ATA (SATA), and a wide range of programmable DSP cores and subsystems with different price/performance metrics serving multiple markets. In 2006, CEVA's IP was shipped in over 190 million devices. For more information visit: — ENDS —
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