ChipX acquires business from OKI

Pursuant to the agreement, the entire Oki Semiconductor U.S. ASIC engineering team, ASIC specialists and marketing personnel have joined ChipX. This transaction will boost ChipX's ASIC team capabilities and enable it to become a broad-based ASIC company with a broad product offering of embedded arrays, gate arrays, structured ASICs and standard cell ASICs. The combined company will have a track record of having executed and delivered more than 2000 ASIC designs over the past 20 years, with an outstanding percentage of first time working silicon. As a result of the collaboration between the two companies, Oki Semiconductor has become a turnkey foundry for ChipX and has licensed its embedded array and Gate array technology and internally developed IP to ChipX. Oki Semiconductor has assigned all of its U.S. ASIC product backlog to ChipX and has contracted the completion of the ongoing customer designs to ChipX. “We were very impressed with Oki Semiconductor's ASIC team capabilities and are looking forward to their contributions to our worldwide ASIC business", said Amnon Fisher, ChipX's President and CEO. “Our customers will now have access to a broader ASIC offering enabling us to service all their ASIC needs and continue to speed their time to market." “We are confident that our US customers will be well supported by ChipX and will benefit from ChipX's Structured ASIC offering", said Masaharu Ozawa, President and COO of Oki Semiconductor. “We are excited about our collaboration with ChipX and look forward to a long and mutually beneficial relationship."