Product category:
Memory Devices and Modules
News Release from: Silicon Storage Technology
Edited by the Electronicstalk Editorial
Team on 26 October 2004
Silicon Storage Technology to acquire
G-Plus
Silicon Storage Technology has signed a definitive agreement to acquire substantially all the assets of privately held G-Plus.
Silicon Storage Technology has signed a definitive agreement to acquire substantially all the assets of privately held G-Plus G-Plus is a Santa Monica, California-based fabless semiconductor manufacturer specialising in the design of radio frequency integrated circuits for wireless multimedia and broadband networking system applications
This article was originally published on Electronicstalk on 13 Aug 2008 at 8.00am (UK)
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SST will pay approximately $26.0 million in common stock and cash.
It is expected that G-Plus' 36 employees, including cofounders CTO Frank Chang and President Daniel Chow, will join SST Communications Corp, a newly created wholly owned subsidiary of SST, in order to support current and future wireless customers.
The transaction is expected to close before mid-November and to be accretive to SST's earnings per share within one year.
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Formed in 2001, G-Plus designs innovative RF ICs and monolithic microwave integrated circuits for a wide range of wireless and multimedia applications such as 802.11 a/b/g wireless LAN and 5.8GHz wireless digital audio systems.
G-Plus' product offerings include high-linearity and high-output-power amplifiers, direct conversion CMOS RF transceivers, digital modem chipsets, synthesisers and switches.
G-Plus' high-performance power amplifiers complement solutions from other leading wireless chipset companies.
SST is committed to fully supporting G-Plus' wireless chipset partners and customer base.
SST Communications Corp will continue G-Plus' focus on designing and selling innovative ICs to the wireless marketplace.
"It has been SST's longtime strategy to make SuperFlash the embedded memory of choice for wireless applications, and this acquisition is a major milestone in achieving that goal", said Bing Yeh, SST's President and Chief Executive Officer.
"The penetration of wireless technologies, such as 802.11, in the enterprise and consumer markets has increased tremendously in the past few years".
"Cellphones with a wireless LAN feature will become very common in the future, allowing improved access to network data and support for voice-over-network calling".
"At SST, we see the growth of wireless technology continuing to a point where wireless connectivity will be ubiquitous in devices ranging from business equipment to home appliances and entertainment systems".
According to Yeh, the best way to accelerate the proliferation of SuperFlash technology in the wireless space is to acquire a company with innovative technology and a solid roadmap for growth, much as SST did in the SIM card market with the acquisition of Emosyn.
By working closely with innovative entrepreneurial companies having complementary technologies, SST believes it can develop better Flash memory solutions.
The system-oriented design approach applied by G-Plus and its innovations in integrating high-performance, energy efficient and cost-effective designs closely mirror the achievements SST has made in the Flash memory industry.
"SST will continue to provide high-performing, highly reliable and scalable Flash memory products to our customers in the wireless arena".
"Through the acquisition of G-Plus and the formation of SST Communications Corp, we are better poised to address the needs of our existing and future wireless customers and complementary chipset suppliers worldwide", Yeh remarked.
"We are very excited about the acquisition by SST and the opportunities it brings us in terms of volume manufacturing expertise and extensive sales and marketing channels, which will help us continue to provide high-performance solutions to complement chipset suppliers", said Frank Chang, cofounder and CTO of G-Plus.
"SST has a well-established network of foundry partnerships that we believe we can leverage to make our products even more cost effective".
"Our focus and dedication to providing our customers with complete RF solutions will remain unchanged now that we are part of SST".
"We believe that the solid infrastructure and access to SST's SuperFlash technology will help us create more extensive and robust solutions for the wireless marketplace".
This announcement comes on the heels of SST's acquisition in September of a majority stake in Emosyn, a fabless semiconductor manufacturer specialising in the design and marketing of smart card ICs.
The acquisitions of Emosyn and G-Plus are the latest moves in SST's ongoing commitment to accelerate the growth of SuperFlash as the technology of choice for embedded applications.
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