TI To Acquire Chipcon
TI announced that it will acquire Chipcon, a company specializing in the design of short-range, low-power wireless RF transceiver devices. This will enhance TI's ability to offer customers complete short-range wireless solutions for consumer, home and building automation applications. The acquisition also broadens TI's offering of RF solutions and strengthens TI's position in ZigBee, a global standard for wireless monitoring and control applications. TI agreed to pay approximately $200 million for Chipcon. The transaction is expected to be complete in January 2006.
Chipcon's CEO, Geir Forre, will lead TI's group integrating short-range wireless personnel and products from both Chipcon and TI. Geir and the short-range wireless team will report to Art George, Vice President of TI's High Performance Linear group. Chipcon will become a wholly-owned subsidiary of TI and will continue to operate from its Oslo, Norway headquarters. Its other facilities include a software design center in San Diego, California; and sales offices in New Hampshire, Germany, Hong Kong, and Tokyo. The company employs about 120 people.
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