Cypress closes 550 million dollar acquisition of Broadcom’s ‘Internet of Things’ Business

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Cypress Semiconductor announced that it has closed its previously announced acquisition of the Wireless Internet of Things (IoT) business and related assets of Broadcom Limited in an all-cash transaction valued at $550 million. Cypress now offers state-of-the-art Wi-Fi, Bluetooth and ZigBee IoT product lines, along with supporting intellectual property and the Wiced brand Software Development Kit (SDK), developer ecosystem and community.

These technologies, combined with Cypress’s existing microcontroller (MCU), PSoC programmable system-on-chip, analog and memory products, provide customers with complete solutions for connected embedded systems in its key automotive and industrial markets. The low-power products also position Cypress as a leader in the high-growth consumer IoT market, a segment that includes wearable electronics and home automation solutions.

“The world’s leading innovators across the automotive, industrial and consumer markets are looking to connect their products, and starting today with the close of this acquisition, Cypress is now an IoT leader that can offer customers the industry’s most advanced wireless radios and the ability to design products and get to market faster with the support of our Wiced SDK and developer ecosystem,” said Badri Kothandaraman, Executive Vice President of Cypress’s Data Communications Division, which now includes the IoT Business Unit. “We are making world-class wireless radio technology used by top device manufacturers available to our broad, global customer base, adding to the versatility of our existing embedded solutions portfolio”.

“When it comes to supporting customers in the fast-growing IoT market, there is no one-size-fits-all approach; you need a scalable platform that allows for innovation,” said Stephen DiFranco, Senior Vice President of the IoT Business Unit at Cypress and former General Manager of Broadcom IoT. “WICED delivers a uniquely scalable ecosystem of module makers, value-added resellers (VARs), technology partners and ODMs to developers, along with the ability to quickly customize solutions for everything from connected cars to industrial automation equipment to wearables to smart home appliances. With Cypress’s established track record as a supplier of MCUs, memories and Power Management ICs (PMICs) in the various segments these products represent, we are excited by the significant cross-selling opportunities now open to us”.

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