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© mikael damkier dreamstime.com Business | July 07, 2016

Cypress completes acquisition of Broadcom’s wireless IoT business

Cypress Semiconductor has closed its USD 550 million acquisition of the Wireless Internet of Things (IoT) business and related assets of Broadcom.
“The world’s leading innovators across the automotive, industrial and consumer markets are looking to connect their products, and starting today with the close of this acquisition, Cypress is now an IoT leader that can offer customers the industry’s most advanced wireless radios and the ability to design products and get to market faster with the support of our WICED SDK and developer ecosystem,” said Badri Kothandaraman, Executive Vice President of Cypress’s Data Communications Division, which now includes the IoT Business Unit.

“When it comes to supporting customers in the fast-growing IoT market, there is no one-size-fits-all approach; you need a scalable platform that allows for innovation,” said Stephen DiFranco, Senior Vice President of the IoT Business Unit at Cypress and former General Manager of Broadcom IoT. “WICED delivers a uniquely scalable ecosystem of module makers, value-added resellers (VARs), technology partners and ODMs to developers, along with the ability to quickly customize solutions for everything from connected cars to industrial automation equipment to wearables to smart home appliances. With Cypress’s established track record as a supplier of MCUs, memories and Power Management ICs (PMICs) in the various segments these products represent, we are excited by the significant cross-selling opportunities now open to us.”
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