Cypress Semiconductor gains IoT wireless strength by deciding to acquire Broadcom’s Wireless Internet of Things (IoT) business and related assets in an all-cash transaction valued at $550 million. Broadcom’s Wireless Internet of Things (IoT) business is said to be generating revenue of $189 million in revenue during the last twelve months with a staff of around 430 people.
With this acquisition, Cypress can sell microcontroller chips, RF chips, SRAM, Flash and FRAM memory chips to its IOT customers. But the Cypress' IoT product offering platter is still not complete. Typically IOT product's active-component requirement includes microcontroller chips, memory chips, RF ICs, analog and interface ICs, power semiconductor devices and also sensors. Some of the other chip vendors who compete with Cypress Semiconductor offer analog and interface ICs, power semiconductor devices, and MEMS sensors along with what Cypress is offering.
Broadcom’s Wireless Internet of Things (IoT) business includes Broadcom’s Wi-Fi, Bluetooth and Zigbee IoT product lines and intellectual property, along with its WICED brand and developer ecosystem.
Cypress Semiconductor also announced that its CEO, T.J. Rodgers, will step down this week from CEO position.