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Semtech acquires US-based IC Interconnect
Semtech Corporation says that the company has acquired substantially all the assets of IC Interconnect, Inc. (ICI), a privately-held, US company that provides contract wafer bumping and related services to the electronics industry.
The acquisition is expected to add 42 employees located in Colorado Springs, Colorado.Under the terms of the purchase agreement, Semtech acquired ICI assets for a cash purchase price of approximately USD 7 million and assumed certain obligations going forward.
“The addition of ICI is aimed at further enhancing our U.S. R&D capabilities by developing and ramping our next-generation Z-Pak platform - the Z-UltraTM platform,” stated Mark Costello, Vice President and General Manager of Semtech’s Protection Products Group in a press release. “The “Z-Ultra” platform will significantly enhance Semtech’s ability to address new challenges created by further shrinking of silicon geometries and will drive quantum improvements in system-level performance over our current platform.”
“ICI has combined manufacturing process innovation and operational excellence to deliver cost-effective wafer level packages to Semtech since 2001 and we are now excited to become part of the Company,” stated Curt Erickson, President of ICI.
