SOI-MEMS timing device leader SiTime Corporation is being acquired by MegaChips Corporation, a top 25 fabless semiconductor company based in Japan for $200 million in cash. (read the press release here). This transaction combines two complementary fabless semiconductor leaders that provide solutions for the growing Wearables, Mobile and Internet of Things markets.
“MEMS components are fuelling the growth of the semiconductor industry, “said Akira Takata, President and CEO of MegaChips Corporation. “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.”
SiTime’s innovative SOI-MEMS timing solutions replace dated quartz products in the telecom, networking, computing, storage and consumer markets, with the benefits of higher performance, smaller size, and lower power and cost. ASN has been following SiTime for over five years, since they first spun off of Bosch, and CTO Markus Lutz explained the role SOI plays in their technology (which you can read here). You can also read more about SiTime products and technology here by clicking the ASN SiTime tag.
SiTime will retain its name and operate as a wholly owned subsidiary of MegaChips.