Microchip acquires memory technology and IP portfolio
Microchip Technology has signed a definitive agreement to acquire Silicon Storage Technology in a cash deal worth around $275million.
Previously, SST had announced that it would merge with equity company Technology Resources Holdings. That agreement, which had angered a number of SST shareholders, has now been cancelled.
"SST's Superflash technology and extensive patent portfolio are critical building blocks for advanced microcontrollers," said Steve Sanghi, pictured, Microchip's president and ceo. "This acquisition enables Microchip to gain earlier access to SST's advanced technologies, as well as the ability to customise technology variants that can give us an advantage over competing technologies."
* Meanwhile, Microchip has announced that net revenues for Q3 of its 2010 fiscal year 2010 were $250.1million, 30.1% higher than in the same quarter of 2009. Net income for Q3 was $69.4m.
