Canaccord on Intrinsyc's big Samsung win
This is excerpted from Canaccord Capital’s Morning Coffee note regarding Fund II portfolio co. Intrinsyc Software (ICS:TSX):
Intrinsyc Software (ICS : TSX : $1.15), Net Change: 0.21, % Change: 22.34%, Volume: 3,825,880
In 1999, throwing down the name Samsung would have been worth 3-4 bucks easy…Intrinsyc announced that Samsung Semiconductor System LSI Division has signed a licensing agreement for the Soleus software platform. Samsung will bundle Soleus with an application processor for its ODM (original device manufacturer) and OEM (original equipment manufacturer) customers. Intrinsyc expects that Samsung will begin shipping the bundled solutions in the second half of 2008. Canaccord Adams Technology Analyst Peter Misek views this as very positive and believes that this contract will set the stage for meaningful contributions to its financials in the second half of 2008 and 2009. Instrinsyc stated that it anticipates the relationship throughout the global market. And overall, signing with international giant Samsung provides Intrinsyc with immediate credibility, which should facilitate the signing of more customers.”
MRM
(disclosure – our Fund II holds warrants in ICS)
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