Novafora

About Novafora

Novafora, Inc. operated as a fabless semiconductor company with a focus on developing digital video processing chips. The company was established in 2004, initially under the name Sipharos, by brothers Zaki and Shlomo Rakib, who were veterans of the video technology sector. Zaki Rakib served as the company's CEO, while Shlomo Rakib was the chairman. Prior to Novafora, the Rakib brothers had co-founded Terayon Communication Systems, a digital video equipment maker that was eventually acquired by Motorola.

Based in San Jose, California, Novafora aimed to provide original equipment manufacturers (OEMs) with processors that could deliver high-quality video across any display device. The company's business model revolved around the design and sale of these specialized video processors, positioning itself as a competitor to established firms in the system-on-chip market. In a significant strategic move in late 2008, Novafora announced its acquisition of Transmeta Corporation, a semiconductor intellectual property company, for approximately $255.6 million. This acquisition was intended to integrate Transmeta's power management technology into Novafora's video processors, broadening their applicability across a wide range of video-oriented devices.

The company secured at least $18 million in a Series B funding round in 2007 from investors including Vertex Venture Capital and Gemini Israel Funds. Despite the high-profile acquisition of Transmeta, which was finalized in January 2009, Novafora faced significant financial challenges. By August 2009, the company was unable to secure additional venture capital and ceased operations, laying off its employees. The company's assets, including the valuable intellectual property acquired from Transmeta, were turned over to creditors.