"MegaChips has an aggressive growth strategy with a vision to become one of the top 10 fabless semiconductor companies through organic growth and strategic acquisitions," said Akira Takata, president and CEO. "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."
Rajesh Vashist, pictured, SiTime's CEO, added: "Today, SiTime is the overwhelming leader – we have 1000 customers, 250million units shipped, major design wins in all electronics segments, and a roadmap that extends SiTime's MEMS technology to all timing markets.
"MegaChips' financial strength and scale, with SiTime's innovation and passion, will rapidly accelerate the adoption of MEMS timing solutions."
