Valens Semiconductor buys Acroname for $7.8 million
Israel's fabless chip firm Valens Semiconductor has acquired acquired automation and control technologies specialist Acroname in an all-cash deal.
Valens said it hopes the purchase will expand its footprint in the market for the industrial and machine vision, and specifically in USB-connected cameras. It wants to create a USB offering that combine its USB VS6320 copper chipsets with Acroname’s high-end programmable USB hubs, switches, and test automation systems.
US-based Acroname designs, develops, and distributes products for applications in manufacturing automation, AV conference rooms, managed IT services, mobile device management, and embedded robotic control systems.
"We are excited to welcome Acroname to the Valens team," said Gideon Ben Zvi, CEO of Valens Semiconductor. "By incorporating Acroname's technology and expertise into our USB offering, we will be able to deliver a unique value proposition to the industrial market, enabling the long-distance extension and seamless switching of Hi-Speed and SuperSpeed USB devices. This acquisition, our first M&A transaction, is an important milestone in our strategy of expanding our offering to multiple industries and increasing our value add for our customers."
The purchase price for the acquisition was USD 7.8 million in cash. The purchase price is subject to a post-closing adjustment for net working capital.
