Mergers and Acquistions News
Categories: Semi-Conductors
October 9th 2008, 16:28PM
Freescale Semiconductor, one of the largest manufacturers of semiconductors in the world, has announced the acquisition of software platform product producer Intoto.
The company, which had sales of $5.7 billion (£3.29 billion) last year, claimed it made the purchase in order to improve its capabilities and the service it provides to its customers.
Dr Lisa Su, the senior vice-president of Freescale's Networking and Multimedia Group, remarked: "Intoto's modular software architecture, broad application-based platforms and engineering talent will enhance our existing single core and multicore enablement capabilities and give our customers comprehensive system solutions."
The financial details of the takeover were not revealed, but Intoto's former chief executive Sathyna Lyengar will take up the position of vice-president in Freescale's Networking Systems Division.
In 2006, Freescale accepted an acquisition proposition from a consortium led by Blackstone Group.
Valued at $17.6 billion, it was thought to be one of the largest private purchases of a technology firm ever.
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