In return, Maxim (Sunnyvale, Calif.) will receive an equity position in Intelleflex (Santa Clara, Calif.), a developer of RFID products. In total, seven engineers from Maxim will be joining Intelleflex.

"This transaction combines the leaders in Class 3 RFID. The added development capacity and complementary design ideas will allow us to accelerate the product road map and build a leading position in the applications and markets for Class 3 RFID technology," said Intelleflex President and CEO Peter Mehring, in a statement.

Intelleflex has also received $8 million in funding in the initial close of an investment round led by New Venture Partners. Earlier round investors Arcapita Ventures, Morgenthaler Ventures and The Woodside Fund also participated.

In January, Maxim acquired Innova Card (La Ciotat, France), fabless semiconductor company specializing in the design and development of secure solutions for terminals, for an undisclosed sum.

Earlier this year, Maxim acquired Zilog Inc.'s secure transaction product line. This features the Zatara 32-bit, ARM-based microcontroller family for use in payment terminals.

Maxim posted a sequential double-digit increase in sales for the second consecutive quarter in the period ended Sept. 26, the company said Thursday (Oct. 29).