SiTime is Now a Wholly Owned Subsidiary of MegaChips
MegaChips Completes Acquisition of SiTime
- Largest acquisition of a venture-backed semiconductor company in 2014
- MegaChips becomes a leader in MEMS with SiTime’s 80% share in MEMS timing
- MegaChips’ revenue of $600M provides scale and growth for MEMS
SUNNYVALE, Calif. – November 21, 2014 – SiTime Corporation, a MEMS and analog semiconductor company, today announced the completion of its acquisition by MegaChips Corporation (Tokyo Stock Exchange: 6875), a top 25 fabless semiconductor company based in Japan. This closing follows the announcement on October 28, 2014, that SiTime had entered into a definitive agreement to be acquired by MegaChips for $200 million in cash.
SiTime will retain its name and operate as a wholly owned subsidiary of MegaChips.
MegaChips Corporation (1st section of the TSE (Tokyo Stock Exchange): 6875) was established in 1990 as an innovative fabless company dedicated to ASICs and system LSIs with the goal of integrating LSIs and systems knowledge and solutions. Its focus is on the development of cutting-edge system LSIs and systems products incorporating original algorithms and architecture in the areas of imaging, audio, and telecommunications, and using the advances it achieves to offer outstanding products and solutions that meet the needs of its clients. For additional information, visit: http://www.megachips.co.jp/english/index.html.
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SiTime Corporation, a MEMS analog semiconductor company and a wholly owned subsidiary of MegaChips Corporation (Tokyo Stock Exchange: 6875), offers MEMS-based silicon timing solutions that replace legacy quartz products. With 80% market share and about 250 million devices shipped, SiTime is driving the electronics industry to use 100% silicon-based timing. In this market, SiTime competes with public companies such as Silicon Labs, Micrel, Seiko Epson and Kyocera.
SiTime’s configurable solutions enable customers to differentiate their products with higher performance, reduced size and better reliability. The rich feature set and flexibility of SiTime’s solutions allow customers to consolidate their supply-chain, reducing cost of ownership and time to market. By using standard semiconductor processes and high volume packaging, SiTime offers the best availability and shortest lead times in the industry.
Top-tier manufacturers are experiencing these benefits and recognize SiTime as The Smart Timing Choice™. For more information, visit www.sitime.com.
Executive Vice President, Marketing