Microchip Technology has completed the $900m acquisition of Standard Microsystems Corporation (SMSC).
"We believe SMSC's smart mixed-signal connectivity solutions aimed at embedded applications are an ideal complement to Microchip's embedded control business," said Steve Sanghi, Microchip's president and CEO.
"This acquisition will expand our range of solutions as SMSC contributes exciting new products and capabilities in the automotive, industrial, computing,
consumer and wireless audio markets, significantly extending our served available market," said Sanghi.
SMSC in its most recent fiscal year ending February 29, 2012 reported net sales of $412m, non-GAAP gross margin of 54.4% of sales, and non-GAAP operating profit of 12% of sales.
This is Microchip's second acquisition this year, in April it announced the acquisition of Roving Networks, a supplier of low-power embedded Wi-Fi and Bluetooth chips based in Los Gatos, California.
Roving Networks is a privately held, fabless semiconductor developer of Wi-Fi certified transceivers and FCC certified Wi-Fi and Bluetooth modules.
