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Semtech acquires Triune Systems in $45 million deal
Semtech has completed the acquisition of Triune Systems, a privately-held supplier of wireless charging and power management platforms.
The acquisition will add approximately 35 employees with the majority of these employees based in Texas, USA. Ross Teggatz, Founder and Chief Executive Officer of Triune Systems, will join Semtech as Senior Vice President and General Manager of Semtech’s Power Management and High-Reliability Product Group, reporting directly to Semtech’s President and Chief Executive Officer, Mohan Maheswaran. In addition to its portfolio of wireless charging platforms, Triune Systems has also developed an isolated switching platform that is targeted at home automation and other industrial markets. This platform has been designed to replace larger, less efficient solid state and mechanical relays. Mohan Maheswaran, Semtech’s President and Chief Executive Officer, stated, “Triune Systems has developed a number of innovative wireless charging platforms that address some exciting, emerging market segments. These platforms are very complementary to Semtech’s current market focus. We are very excited to bring Semtech’s power management portfolio and global strengths together with Triune Systems’ expertise in wireless charging to introduce new, disruptive power platforms to the market. The acquisition of Triune Systems is consistent with our philosophy of acquiring key core competencies that position Semtech as a leading analog and mixed signal solutions provider in targeted high growth application segments.” “Triune Systems has focused on developing unique solutions for the wireless charging, portable charging and power management markets. We are very pleased to join Semtech, a company with an established reputation as a leading, high quality supplier of analog and mixed signal solutions. We believe Triune’s products are a synergistic fit with many of Semtech’s end-markets and customers, and I am delighted to be given the opportunity to lead Semtech’s future Power Management and High-Reliability strategy,” stated Ross Teggatz. Under the terms of the purchase agreement, Semtech acquired all of the outstanding equity interests of Triune Systems for an aggregate purchase price of USD 45 million.
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