Friday, August 24, 2007

Maxim Acquires Vitesse Storage Products Business

Sunnyvale-based Maxim Integrated Products said Thursday afternoon that it has acquired the storage products business of Vitesse Semiconductor, in a deal worth $63M in cash and up to $12M in earn out. The unit of Vitesse manufactures components for the Serial ATA (SATA) and Serial Attached SCSI (SAS) market, and is based in Colorado Springs, Colorado. The deal is expected to close in the fourth quarter. Maxim said it expects to offer employment to more than 50 of Vitesse's engineers and experts in connection with the acquisition.