The Hellenic Initiative’s Annual Venture Fair winner Think Silicon acquired by Applied Materials
May 20, 2020
Standout Greek high tech startup Think Silicon, a prize winner at the annual Venture Fair of The Hellenic Initiative (THI) in 2018, has been acquired by Santa Clara, CA- based Silicon Valley powerhouse Applied Materials.
Applied Materials is the global leader in materials engineering solutions used to produce virtually every new computer chip and advanced display in the world and is one of Fortune’s ‘World’s Most Admired Companies’. It is present in 18 countries with over 22,000 employees globally, holds over 13,300 patents, and invested $2.1 billion in R&D last year.
Think Silicon, headquartered in Patras, develops and licenses high-performance, ultra- low-power graphic processing units (GPUs) and display controller technology for wearables, IoT, home appliances, and industrial automation displays, serving clients worldwide.
Think Silicon, a portfolio company of Metavallon VC, a Greek venture capital firm, has recently been expanding its product line to AI-oriented GPUs, as customers require low power AI processors for Edge Computing.
“The executive team and staff will remain in Patras and Athens and continue serving their growing international clientele and working on their ambitious technology and product roadmap in the electronics and semiconductor products. The transaction marks the largest deep tech startup exit ever in Greece,” according to the Metavallon VC press release.