Cypress Boost IoT Offering with Cirrent Acquisition
Next Generation technologies continue to drive change in the semiconductor industry, and Cypress’s recent acquisition of Cirrent is a prime example of this.
Providing a diverse range of connected chips, Cypress’s semiconductors can be found in cars, consumer electronics, and several other industries – a range of applications that was bolstered by the purchase of Broadcom IoT (Internet of Things) in June of 2016.
With Cirrent – a company that develops software solutions to connect products to Wi-Fi networks – Cypress now aims to become a “one-stop embedded solutions provider” for the IoT market, and further capitalise on the need for greater chip connectivity in the fast growing automotive, consumer and industrial markets.
Under the terms of the deal, Cirrent will remain independent, but will now have access to a broader range of customers through Cypress’s global footprint. In return, Cirrent will provide Cypress with the software and cloud expertise needed to broaden its IoT offering:
“Cirrent helps users bring their IoT products online quickly and keep them connected, solving two of the biggest barriers to the broader proliferation of IoT products,” said Hassane El-Khoury, president and CEO, Cypress. “Providing valuable and differentiated software is a core part of Cypress’ strategy. The addition of Cirrent strengthens our position to expand our software services revenue by bringing on their talented team of engineers, building on their scalable cloud platform, and embracing their relationships with the large internet-service providers and leading IoT product companies.”
The Cypress 3.0 acquisition strategy revolves around fast growing technologies like Big Data, IoT, AI and 5G – all markets which are expected to outpace the general growth of the semiconductor industry.
The movement to integrate these new technologies into chips is being driven by a flurry of deal-making, and this acquisition is the latest in a wave of consolidation in the semiconductor industry.
