Microchip Technology Inc., a provider of microcontroller, mixed-signal, analog and Flash-IP solutions, announced the acquisition of EqcoLogic, an innovator in equalizer and coaxial transceiver products and technologies. EqcoLogic is a privately held, fabless semiconductor company based in Brussels, Belgium and a spin out of Vrije Universiteit Brussel. The terms of the acquisition are confidential and are expected to have no material impact on Microchip’s December quarter results.
“The advent of higher-speed automotive and industrial networks, such as MOST® and Ethernet, and the need to reliably transmit data over longer distances using standard coaxial cables is creating the demand for innovative equalizer and transceiver solutions,” said Ganesh Moorthy, Microchip’s COO. “EqcoLogic’s solutions are tailor-made to address these needs for embedded applications, and broaden the range of solution options we offer customers to enable their end-product innovation.”
“We believe EqcoLogic’s solutions are well positioned to capitalize on a number of embedded markets, especially for automotive and industrial customers,” said Peter Helfet, EqcoLogic’s CEO. “Microchip’s operational excellence, combined with their broad customer reach and extensive channel presence, will be key for the next stage of our growth.”
The statements in this release relating to expecting no material impact on Microchip’s December quarter results, creating the demand for innovative equalizer and transceiver solutions, broadening the range of solution options we offer customers, solutions being well positioned to capitalize on a number of embedded markets and Microchip’s operational excellence combined with their broad customer reach and extensive channel presence being key for the next stage of our growth, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to a number of business, economic, legal and other risks that are inherently uncertain and difficult to predict, including, but not limited to: changes in demand or market acceptance of EqcoLogic’s products and the products of its customers; competitive developments; EqcoLogic’s future financial results, the effect of the acquisition on EqcoLogic’s existing relationships with customers and vendors and their operating results and businesses; the progress and costs of development of Microchip’s and EqcoLogic’s products and the timing and market acceptance of those new products; Microchip’s ability to successfully integrate EqcoLogic’s operations and employees and retain key employees; and general economic, industry or political conditions in the United States or internationally.
Stockholders of Microchip are cautioned not to place undue reliance on the forward-looking statements in this press release, which speak only as of the date such statements are made. Microchip does not undertake any obligation to publicly update any forward-looking statements to reflect events, circumstances or new information after the date of this press release, or to reflect the occurrence of unanticipated events.
Filed Under: TECHNOLOGIES + PRODUCTS, Automotive