SAN JOSE -- In a move to expand its presence in the Universal Serial Bus (USB) device market, Cypress Semiconductor Corp. here today announced it will acquire ScanLogic Corp. of Burlington, Mass.
With the acquisition of ScanLogic, Cypress will expand its USB presence into some new and emerging non-PC markets. ScanLogic's host/slave USB chip family is designed for use in PDAs, cellular phones, set-top boxes, digital cameras, Internet appliances and automotive communication systems.
ScanLogic's solutions embed host-controller intelligence in a system, enabling it to connect with and send commands to other USB peripherals without mediation by a PC host.
While terms of the deal were not disclosed, ScanLogic is expected to contribute between $20-to-$25 million in revenue for Cypress in 2002.
"ScanLogic's product portfolio is highly complementary to Cypress's, reinforcing our number one USB position," said Cypress president and CEO T.J. Rodgers. "The acquisition underscores Cypress's USB strategy: to provide targeted solutions for every USB market segment," he said.
Cypress claims to be the industry leader in USB-enabled devices. Its devices are designed to meet the needs ofhigh-volume, PC-related markets, such as mice and keyboards.
The ScanLogic acquisition, which is expected to be accretive to Cypress' 2001 earnings, will be accounted for on a purchase basis.