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Canada,Japan,United States : MegaChips takes over SiTime in $200 million cash deal [TendersInfo (India)](TendersInfo (India) Via Acquire Media NewsEdge) MegaChips announced the acquisition of SiTime in a cash deal for $200. Akira Takata, President and CEO of MegaChips Corporation said, 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. 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. 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. Dr. Volkmar Denner, Chairman, Board of Management of Robert Bosch GmbH said, As a founding investor in SiTime, Bosch recognized early on the tremendous vision and innovation behind SiTime s approach to MEMS timing. We have closely followed their success from a Silicon Valley startup to a revenue-generating company that sells to some of the world s largest electronics companies. We are pleased that MegaChips is acquiring SiTime and we expect a bright future for the combined companies. SiTime is a manufacturer of mems-based timing devices such as oscillators, which offer highest performance in smaller size compared to quartz-based crystal oscillators. Recently, MegaChips has also purchased 9 smart connectivity products based on DisplayPort technology from STMicroelectronics that ST decided to discontinue last year, along with its related assets. (c) 2014 Euclid Infotech Pvt. Ltd. Provided by SyndiGate Media Inc. (Syndigate.info). |