Fresh funds facilitate global business expansion

Lattice Technology has raised Y485 million of additional funds, which it will use to increase product development and continue its investment in global business expansion.

Lattice Technology has raised Y485 million ($4.2 million) of additional funds, which it will use to increase product development and continue its investment in global business expansion.

The funding will be provided by Tokio Marine and Nichido Fire Insurance and an additional company.

Tokio Marine and Nichido will become the third major shareholder joining Toyota Motor Corporation and Mitsui and Co The funding will be targeted at the development of next-generation 3D applications and expansion of Lattice Technology's global operations.

Since Lattice's 3D ultra-compressed format, XVL, has become a standard in many major companies, the needs for XVL related products have diversified from initial uses of 3D viewing and collaboration to include design review and technical publications.

Due to the increasing use of 3D CAD, the accumulation of 3D data in corporations is rapidly progressing and XVL has become a key technology in distribution of information for many major corporations and their supply chain.

Lattice Technology will use the new funding to ensure its products and technology continue to meet an exceed customer needs.

Lattice has also been reinforcing its global sales channels and, after successfully growing business in the USA and Europe since 2003, established a full subsidiary, Lattice Technology, in the USA in April 2006 to manage business in the Americas and Europe, Africa, Middle East markets.

Business growth in these markets has continued with European and American corporations also deploying XVL based solutions corporate-wide.

The funding will help support continued global expansion.

Lattice Technology has projected that sales will be at least doubled over the next two years by new product introduction and continued global expansion.

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