Cypress Semiconductor Corporation (NYSE:CY) announced it has satisfied closing conditions for the acquisition of HiBand Semiconductors. The acquisition, which will be accounted for on a purchase basis, is designed to broaden Cypress's portfolio of high-performance physical layer devices for networking applications.
HiBand is a provider of mixed-signal integrated circuits for high-speed communications markets, such as SONET, Ethernet, Fibre Channel, and InfiniBand. The company is currently in the final stages of the development of a 10 Gbps physical layer device for Ethernet applications.
The acquisition will augment existing Cypress's capabilities in the areas of high-speed physical-layer communications devices and optical communications technology.
Christopher Norris, vice president of Cypress's data communications division, said, "As designers seek to build systems that move data at 10 Gbps transmission rates and beyond, they need to transition from electrical to optical technology. HiBand will add to our experience base in key areas, enabling us to accelerate that transition."
About Cypress:
Cypress Semiconductor provides high-performance integrated circuit solutions to the data communications, telecommunications, computation, consumer products, and industrial control markets. Cypress's products include high-speed data communications ICs; networking-optimized and micropower static RAMs; high-bandwidth multi-port and FIFO memories; high-density programmable logic devices; timing technology solutions; and controllers for Universal Serial Bus (USB). For more information, visit www.cypress.com.