Julio Urquidi
News Editor
Cypress will acquire Broadcom’s IoT business, and its related assets, in a $550 million all-cash transaction.
Post-acquisition, Broadcom will continue working on non-IoT wireless solutions for devices like laptops, smartphone, and set-top boxes, while Cypress will be in a greater position to compete in the growing embedded systems market fueled by automotive, industrial and consumer demand.
Expected to close in Q3 2016, the transaction includes the acquisition of Broadcom’s Wi-Fi, Bluetooth, Zigbee product lines, including IP, as well as the WICED brand and developer ecosystem.
There is no word yet on how the Broadcom IoT acquisition will affect the 430 worldwide jobs employed in the business unit’s workforce.
Post-acquisition, Broadcom will continue working on non-IoT wireless solutions for devices like laptops, smartphone, and set-top boxes, while Cypress will be in a greater position to compete in the growing embedded systems market fueled by automotive, industrial and consumer demand.
Expected to close in Q3 2016, the transaction includes the acquisition of Broadcom’s Wi-Fi, Bluetooth, Zigbee product lines, including IP, as well as the WICED brand and developer ecosystem.
There is no word yet on how the Broadcom IoT acquisition will affect the 430 worldwide jobs employed in the business unit’s workforce.
