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Kinetic closes its acquisition of MegaChips’ smart connectivity products
Kinetic Technologies says that it has completed its previously announced acquisition of MegaChips Corporation’s Smart Connectivity Division acquisition. The asset transaction was closed on December 12, 2019.
Adding the Smart Connectivity product line to Kinetic’s portfolio is a continuation of the Company’s growth strategy, executed organically as well as via acquisitions. Smart Connectivity Division management and staff have joined the Kinetic team as part of the deal.
“The addition furthers Kinetic's strategy of developing and acquiring high-performance technology which relies on our system architecture expertise,” says Kin Shum, CEO of Kinetic Technologies, in a press release. “We see the Smart Connectivity products as highly complementary to Kinetic's portfolio with demand at our existing top-tier OEM customer base.”
