Silicon Storage Technology Acquires Novocell Semiconductor

Silicon Storage Technology (News - Alert) (SST) is acquiring Novocell Semiconductor, best known as a company that provides memory technology.

SST is a subsidiary of Microchip Technology (News - Alert) Inc. Novocell also will become a wholly-owned subsidiary of SST.

The deal is expected to close in early June and has been approved by the boards of directors at each company.

Financial details on the acquisition were kept private.

“We…are expecting great things as we integrate the technology into our ever-expanding portfolio of IP solutions,” Mark Reiten, vice president of Technology Licensing for SST, said in a statement carried by TMCnet.  “This acquisition provides our customers with valuable and differentiated technology and helps us to enable their designs with an even more comprehensive set of solutions, expanding our position as a leading memory IP supplier.”

“We are extremely happy to become part of SST and the Microchip family and are excited by the strategic possibilities available to us, moving forward, from both a business as well as a technology perspective,” Walter Novosel, Novocell’s president and chief technical officer, added in the statement.  

“Novocell has continued to grow its portfolio of non-volatile-memory IP solutions since its inception, and we fully expect the technology to see an increased adoption from joining a leader like SST in the memory IP market,” Novosel added in a statement appearing in the Phoenix Business Journal.  “With SST’s offerings in the high-density arena, we can concentrate on not only expanding our customer base, but also growing the footprint that SST has built with customers worldwide in low-density OTP and MTP memory.”

SST develops, designs and provides SuperFlash memory technology for varied markets in diverse sectors. Novocell Semiconductor supplies non-volatile-memory (NVM) intellectual property (IP) solutions for foundries, fabless semiconductor companies, and integrated device manufacturers, the company said.