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Date: 09-11-14

MegaChips to acquire MEMS expert SiTime for $200 million

Japan-based fabless semiconductor company MegaChips is acquiring mems device maker SiTime for $200 million in cash.

SiTime makes mems-based timing devices such as oscillators, which offer highest performance in smaller size compared to quartz-based crystal oscillators.

MegaChips has also recently acquired 9 smart connectivity products based on DisplayPort technology from STMicroelectronics that ST decided to discontinue last year, along with its related assets.

“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, President and CEO of MegaChips Corporation. “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.”

“As a founding investor in SiTime, Bosch recognized early on the tremendous vision and innovation behind SiTime’s approach to MEMS timing,” said Dr. Volkmar Denner, Chairman, Board of Management of Robert Bosch GmbH. “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.”

MegaChips develops ASIC and ASSP chips such as image processing ICs and LCD display chips. MegaChips has recently announced the development of sensor hub chip.

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