Parade to acquire Cypress' TrueTouch mobile business

Post-acquisition, Parade will provide TrueTouch solutions to mobile customers and expand into other consumer-oriented segments. Markets to be served by Parade will include smartphones, tablets, notebooks/PCs, monitors, wearable technology, GPS systems, digital cameras, and certain industrial segments. “We believe Cypress’s leading technology and unmatched IP portfolio in touch-sensing will provide us with immediate growth opportunities, increasing our scale and diversifying our revenue and customer base,” said Jack Zhao, Chief Executive Officer of Parade. “More importantly, the combination of two technology leaders will enable Parade’s roadmap for display and touch integration solutions in mobile display.” “Mobile capacitive touchscreen solutions are increasingly being integrated directly into the display system,” said Hassane El-Khoury, Executive Vice President of Cypress’s Programmable Systems Division and Software. “Parade’s advanced display solutions are truly best in class. Its relationships with Tier 1 PC and consumer electronics manufacturers make it an excellent choice to continue to provide our customers with advanced technology and product roadmaps that the industry requires.” The transaction, which is subject to customary closing conditions, is expected to close during the third quarter of 2015.