Silicon Laboratories Inc. (Nasdaq: SLAB) has agreed to acquire Integration Associates, a
Silicon Laboratories Inc. (SLAB) today announced it has signed a definitive agreement to acquire Silicon Valley-based Integration Associates, an innovator in analog-intensive, highly integrated ICs, for net $80 million, taking into consideration Integration Associates' cash balances and net current assets. Integration Associates brings a diverse portfolio of connectivity, wireless and power solutions, quality revenue and nearly 100 engineers to Silicon Laboratories.
Integration Associates' portfolio is aligned with Silicon Laboratories' objective to broaden system content within existing applications and to enter new markets. Specifically, the acquisition augments Silicon Laboratories' R&D investments currently in place in short range wireless, a large market that includes home automation, remote keyless entry and automated meter reading applications. This is an untapped market for Silicon Laboratories where Integration Associates has developed innovative products, an expanding customer base and a growing revenue stream.
Integration Associates' products will also accelerate Silicon Laboratories' expansion into the audio subsystem, a natural extension of the current broadcast audio portfolio. And, the company's power portfolio is a strategic addition to Silicon Laboratories' nascent power product line, which is in the early stages of revenue ramp.
“This acquisition will enable us to address new product vectors, accelerate time to revenue for current investments and further scale our engineering team with the addition of an experienced group of mixed-signal design and application engineers,” said Necip Sayiner, president and CEO of Silicon Laboratories. “Additionally, good quality revenue and attractive growth potential further enhance our operational profile as we expect this transaction to be accretive in 2009.”
“We have developed a solid business based on innovative technology, and we're at a key inflection point with new products,” said Jean-Luc Nauleau, CEO of Integration Associates. “The timing is right for us to leverage the sales channel and infrastructure of a larger company and Silicon Labs is the perfect partner. Our technology focus and core competency are well aligned with Silicon Labs' capabilities, and we will also have an opportunity to jump start a number of very promising new products as a result of the combination.”
Integration Associates is a private company based in
About Integration Associates
Integration Associates is a fabless semiconductor company headquartered in
About Silicon Laboratories Inc.
Silicon Laboratories is an industry leader in the innovation of high-performance, analog-intensive, mixed-signal ICs. Developed by a world-class engineering team with unsurpassed expertise in mixed-signal design, Silicon Labs' diverse portfolio of highly-integrated, easy-to-use products offers customers significant advantages in performance, size and power consumption. These patented solutions serve a broad set of markets and applications including consumer, communications, computing, industrial and automotive.