Tuesday, February 20, 2007

ChipX Buys Oki Semiconductor's US ASIC Team

Santa Clara-based ChipX has signed an agreement to acquire Oki Semiconductor's U.S. ASIC engineering team, the firm said today. Financial terms were not disclosed. As part of the deal, Oki Semiconductor will become a turnkey foundry for ChipX, and will license its embedded array and Gate array technology to ChipX. ChipX will also complete customer designs for Oki's U.S. product backlog. ChipX is backed by Elron, VantagePoint, Wasserstein Venture Capital, Newlight Associates, and Parker Price.