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LSI Logic acquires multimedia SoC company

Posted: 09 Jan 2007     Print Version  Bookmark and Share

Keywords:LSI Logic  Metta Technology  multimedia  system-on-chip 

LSI Logic Corp. has acquired Metta Technology Inc. for Rs.31.72 crore ($7 million) in cash. Metta Technology Inc, a privately held company with principal offices in Pune, develops multimedia SoC technology and related software for consumer electronics products.

"Through the acquisition of Metta Technology, we are looking forward to increase our portfolio in the field of consumer electronics," said Rajeev kapoor, Head, India Design Operations.

Under the terms of a definitive agreement, LSI has acquired all outstanding Metta Technology capital stock. Additionally, LSI has retained the Metta Technology workforce consisting of 60 employees, who joined the LSI Consumer Products Group upon closing of the transaction. LSI believes to increase this work force by 100 by the end of this year, said Rajeev. "Our intention to retain this workforce is to know the technical know how ,trends in the market, and how their products are being taken in market."

- Prachi Garg
  EE Times India

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