MegaChips to acquire SiTime for $200m

Rajesh Vashist, CEO, SiTime, commented: “SiTime’s founders, Markus Lutz and Dr. Aaron Partridge, started the company with a vision of developing game-changing MEMS and analogue technology to revolutionise the $5bn timing industry. Through innovation, passion and focus, we’ve successfully delivered on this vision. Today, SiTime is the overwhelming leader - we have 1,000 customers, 250m units shipped, major design wins in all electronics segments and a roadmap that extends SiTime’s MEMS technology to all timing markets.”

“MegaChips has an aggressive growth strategy with a vision to become one of the top ten fabless semiconductor companies through both organic growth and strategic acquisitions. MEMS components are fuelling the growth of the semiconductor industry. Through the acquisition of SiTime, MegaChips becomes a leader in MEMS. SiTime will help us expand our portfolio and diversify our customer base. SiTime technology is the perfect match for MegaChips’ solutions that target wearables, mobile and IoT markets such as 'frizz', our ultra-low-power smart phone Sensor Hub LSI and BlueChip Wireless, a sub-GHz RF LSI.”