Internet of Things – IoT
MegaChips of Osaka, the 24-year-old IC design house, is to buy Bosch-backed SiTime of Sunnyvale, the MEMS timing specialist, for $200 million in cash.
The companies say they are complementary in that they both address the wearables, mobile and internet of things (IoT) markets.
“MegaChips has an aggressive growth strategy with a vision to become one of the top ten fabless semiconductor companies through both organic growth and strategic acquisitions,” said Akira Takata, CEO of MegaChips.
“MEMS components are fuelling the growth of the semiconductor industry. Through the acquisition of SiTime, MegaChips becomes a leader in MEMS. SiTime will help us expand our portfolio and diversify our customer base,” said Takata.
“SiTime technology is the perfect match for MegaChips’ solutions that target wearables, mobile and IoT markets such as ‘Frizz’, our ultra-low-power smart phone Sensor Hub LSI and BlueChip Wireless, a sub-GHz RF LSI,” he added.
MegaChips has revenues of over $600 million and its expansive strategy saw it buying Kawasaki Microelectronics in 2012.
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