Toronto's
ViXS Systems has long been a leader in developing and supplying semiconductors and multimedia processors for the growing industry of manufacturers of TVs, DVD players and computers.
Now, with the help of a
$6.15 million grant from the Ontario Ministry of Economic Development and Trade, ViXS is in the midst of developing a next-generation video chip for the industry. The research and development project represents a $40.97 million investment for the company in total (including the provincial grant), and is seeing the company's existing staff of 96 grow by 44 new employees.
ViXS CEO Sally Daub says the government grant is allowing the company to "hire world class talent" while building on its position as a leader in video engine technology. She says the investment is also allowing the company to expand its global reach to new customers.
The company has been exploding, consistently ranking for the past three or four years high on both the Profit 100 and the Deloitte Fast 50 lists of fastest growing companies in Canada (it's shown roughly 300% revenue growth in the past three years). According to
Profit magazine, the company is also the 15th fastest growing female-led company in the country.
Writer: Edward Keenan
Sources: Janet Craig, ViXS; Leigh Ann Popek, office of the Minister of Economic Development and Trade