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Microchip subsidiary buys Novocell

Posted: 05 Jun 2013     Print Version  Bookmark and Share

Keywords:Acquisition  Novocell  SST  Flash IP  non-volatile-memory 

Silicon Storage Technology (SST) has announced its planned acquisition of Novocell Semiconductor Inc. SST is a wholly-owned subsidiary of Microchip Technology Inc.

The acquisition has already been approved by the companies' board of directors and the transaction is expected to close in early June 2013. Under the acquisition agreement, Novocell will become a wholly-owned subsidiary of SST. The terms of the deal, however, still remains confidential.

"We are pleased to announce the acquisition of Novocell and are expecting great things as we integrate the technology into our ever-expanding portfolio of IP solutions," said Mark Reiten, vice president of Technology Licensing for SST. "This acquisition provides our customers with valuable and differentiated technology and helps us to enable their designs with an even more comprehensive set of solutions, expanding our position as a leading memory IP supplier," Reiten noted.

"We are extremely happy to become part of SST and the Microchip family and are excited by the strategic possibilities available to us, moving forward, from both a business as well as a technology perspective," stated Walter Novosel, Novocell's president and chief technical officer. "Novocell has continued to grow its portfolio of non-volatile-memory IP solutions since its inception, and we fully expect the technology to see an increased adoption from joining a leader like SST in the memory IP market. With SST's offerings in the high-density arena, we can concentrate on not only expanding our customer base, but also growing the footprint that SST has built with customers worldwide in low-density OTP and MTP memory."

Both companies are committed to a seamless customer transition. SST plans to invest in continuing, designing, developing and extending Novocell's product portfolio and roadmap.

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