CEVA to acquire chip design specialist
CEVA, a licensor of wireless connectivity and smart sensing technologies, will acquire Massachusetts-based chip design specialist Intrinsix for approximately USD 33 million in cash.
For nearly 35 years, Intrinsix has been providing complex System-on-Chip (SoC) design expertise in the areas of RF, mixed signal, digital, software, secure processors and interface IP for Heterogenous SoCs (HSoCs), otherwise referred to as chiplets. Intrinsix has a strong foothold in aerospace & defense, a market that is estimated to reach USD 6 billion in semiconductor spending in 2022. The company is also involved in the development of chiplets and secure processors for DARPA projects. "The acquisition of Intrinsix will provide us with new growth vectors and a larger market reach. We will be able to offer our key customers a comprehensive portfolio of turnkey IP solutions that will capitalize on our off-the-shelf IP and Intrinsix's reputable design capabilities in RF, mixed-signal, security and more. Furthermore, Intrinsix's experience and customer base in the growing chip development programs with the U.S. Department of Defense and DARPA and its IP offerings for processor security and chiplets will extend CEVA's serviceable market and revenue base. We are delighted to welcome the Intrinsix team to CEVA and look forward to the opportunities ahead," says Gideon Wertheizer, CEO of CEVA, in a press release. Jim Gobes, CEO of Intrinsix, adds: "This is an exciting time for the semiconductor industry, with many system companies intending to develop chips and to use IP to build a sustainable, competitive edge and to achieve differentiation. We are thrilled to be joining our development solutions with the wireless connectivity and smart sensing technologies of CEVA, a company at the forefront of the IP space. This combination creates a powerful entity with a strong IP portfolio and advanced chip design capabilities to address and accelerate the strategic need of system companies for custom semiconductors." The closing of the acquisition is anticipated to take place during the second quarter of 2021.