California-based MoSys has acquired substantially all of the assets and business of privately held Prism Circuits to expand its product portfolio and addressable markets with the addition of IP technologies.
The company believes that the acquisition of Prism Circuit’s high speed SerDes and DDR interface IP would help it to broaden its market reach and step up the expansion of its core 1T-SRAM business into packet processing applications in the networking and communications market.
MoSys said the acquisition will help to boost its revenues for the second half of 2009 and FY 2010.
Len Perham, president and CEO of MoSys’, said: “This acquisition is a major step towards driving growth and achieving our vision of becoming a world class provider of differentiated, high value IP for SoC designers.”
Sundari Mitra, CEO of Prism Circuits, said: “Becoming part of a public company enables us to leverage MoSys’ global resources and sales channels to further the expansion of our interface IP business.”
MoSys has paid about $13.5m at completion, and will shell out an additional earn-out amount of up to $6.5m after the first anniversary of the closing date, subject to performance milestones during the initial 12-month post-acquisition period.
