SAN FRANCISCOŚChip vendor Atmel Corp. has signed a definitive agreement to acquire Spanish power line chip vendor Advanced Digital Design S.A., also known as ADD Semiconductor, for an undisclosed amount, the company said Tuesday (Sept. 27).
Atmel (San Jose, Caif.) said the transaction remains subject to customary closing conditions and is expected to close by the end of October. Atmel said it does not expect the acquisition to have a material impact on its overall financial position and results of operations in 2011.
ADD Semiconductor, a founding member of the PRIME Alliance, specializes in the design of system-on-chip solutions that allow for narrow-band data communication across existing electric power lines. In addition to successfully supporting a number of advanced meter infrastructure pilots in Europe, ADD Semiconductor products are also targeted towards the lighting, building automation and solar infrastructure markets, according to Atmel.
The acquisition gives Atmel a portfolio of products and a team of technical experts focused on signal processing and power line communications the company said.