Microchip spends $328.5m on wireless solutions developer
In its first major international acquisition, Microchip has signed a definitive agreement to acquire ISSC, a Taiwanese developer of low power Bluetooth and wireless solutions for Internet Of Things applications, for $328.5million.
"We are delighted to have ISSC join the Microchip team," said Ganesh Moorthy, Microchip's COO. "ISSC's deep domain knowledge in Bluetooth and wireless technologies and strong position in the consumer markets, complement many of Microchip's initiatives in wireless and IoT areas.
"We believe that combining ISSC's strengths in wireless products and technology with Microchip's brand, channel and operational strengths will enable significant cross selling opportunities."
