Mergers and Acquistions News
Categories: Semi-Conductors
March 16th 2009, 13:46PM
Microchip Technology, a microcontroller and analogue semiconductors provider, has announced the acquisition of HI-TECH software.
The terms of the deal are confidential, but the acquisition is expected to immediately increase earnings per share for Microchip stockholders.
Founded in 1984 and based in Australia, HI-TECH provides development software for embedded systems.
It is best known in the industry for the ANSI C compilers, which use the whole-program compilation technology, Omniscient Code Generation.
Clyde Stubbs, chief executive officer of HI-TECH, says the firms focus on high-performance compilation for Microchip parts is "now even sharper".
"Microchip customers can expect to be offered development tools that are more powerful and easier to use than anything previously available for any microcontroller," he explained.
Based in the US, Microchip Technology aims to speed up development and lower the costs of producing customer applications.
In a statement, the firm described the acquisition as the "natural progression of our long-standing, friendly relationship".
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