MANHASSET, NY -- Mindspeed Technologies, Inc. has completed the acquisition of privately held U.K.-based Picochip Ltd., rounding out its offering as a small cell wireless technology provider.
Mindspeed is a fabless chip company. PicoChip is a provider of chip sets for cellular femtocell base stations. The acquisition was announced earlier last month to investors.
“This marks the closing of the most strategic and exciting acquisition in Mindspeed’s history,” said Raouf Y. Halim, Mindspeed’s chief executive officer, in a statement. “Mindspeed and Picochip are now one company that is well positioned to lead the market for small cell base station solutions for next generation mobile broadband communications.”
Halim said the combined company would accelerate Mindspeed’s position in both 3G/high speed packet access (HSPA) and 4G/long-term evolution (LTE).
“We believe we will have the number one market position in deployed small cell processors worldwide, with 70 percent market share in 3G/HSPA deployments.”
Mindspeed will have its first public trade show presence since the completion of the acquisition at Mobile World Congress 2012 (Barcelona, Spain, February 27 to March 1) where it is expected to introduce an expanded product line of base station SoC solutions and a product roadmap that leverages the combined capabilities of Mindspeed and Picochip.
Mindspeed (Newport Beach, CA) last week reported results for its fiscal first quarter of 2012, which ended on December 30, 2011, which included total net revenues of $33.9 million including patent sales, with product revenue of $33.8 million, down 17 percent from the fiscal fourth quarter of 2011.
The company's SoC products are used in 3G and LTE mobile networks, as well as in in fiber-optic networks.