SAN FRANCISCO SMSC on Wednesday (March 30) said it has acquired fabless semiconductor company Oasis Silicon Systems Holding AG for $94 million in cash and stock.
Oasis (Karlsruhe, Germany) develops and markets integrated circuits for networking multimedia devices in automobiles. The company's media oriented systems transport (MOST) technology enables transport of digital audio, video, packet-based data and control information among automobiles.
According to SMSC (Hauppauge, N.Y.), Oasis is one of the largest privately-held fabless semiconductor manufacturers in Europe and serves leading automakers and automotive suppliers around the world. SMSC said Oasis turned a profit in 2004 on $50 million in revenue and that it expects double-digit growth in revenues and earnings by Oasis in 2005.
SMSC said the acquisition will provide business opportunities in Europe and Asia as well as strong systems design capabilities that SMSC can leverage in the consumer electronics and industrial markets, according to a company statement.