Product category:
Intellectual Property Cores
News Release from: LSI Europe
Edited by the Electronicstalk Editorial
Team on 24 November 2006
LSI acquires Indian SoC designer
LSI Logic Corp has acquired Metta Technology for approximately US $7 million in cash.
LSI Logic Corp has acquired Metta Technology for approximately US $7 million in cash Metta Technology, a privately held company with principal offices in Pune, India, develops multimedia system-on-chip technology and related software for consumer electronics products
This article was originally published on Electronicstalk on 23 May 2001 at 8.00am (UK)
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"Through the acquisition of Metta Technology, we are increasing our focus on delivering the advanced, feature-rich solutions required by next generation digital video and edutainment products", said Umesh Padval, Executive Vice President, Consumer Products Group, LSI Logic.
"We are excited to add the significant experience of the Metta team to LSI and anticipate it will improve our competitiveness as we address these growing consumer opportunities".
Under terms of a definitive agreement, LSI has acquired all outstanding Metta Technology capital stock.
Additionally, LSI has retained the Metta Technology workforce consisting of approximately 60 employees, who joined the LSI Consumer Products Group on closing of the transaction.
The transaction, which was completed in the current quarter, is not expected to have a material impact to operations going forward.
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