CHANDLER, Ariz., April 19, 2012 [NASDAQ: MCHP] – Microchip Technology Inc., a leading provider of microcontroller, analog and Flash-IP solutions, today announced the acquisition of Roving Networks (http://www.rovingnetworks.com), an innovator in low-power embedded Wi-Fi® and Bluetooth® solutions based in Los Gatos, Calif. Roving Networks is a privately held, fabless semiconductor developer of Wi-Fi certified transceivers and FCC certified Wi-Fi and Bluetooth modules. The terms of the deal are confidential, and the transaction is expected to be immediately accretive on a non-GAAP basis.
“The ubiquity of Wi-Fi and Bluetooth connectivity is fueling a growing number of embedded applications that take advantage of this rapidly expanding wireless infrastructure,” said Ganesh Moorthy, Microchip’s COO. “Roving Networks’ easy-to-use solutions are tailor made for such embedded applications, and broaden the range of wireless connectivity options we offer customers to enable their end-product innovation.”
“Roving Networks' wireless solutions are well positioned to capitalize on a number of embedded markets including the market for smartphone accessories,” said Mike Conrad, Roving Networks’ CEO. “Microchip’s operational excellence combined with their broad customer reach and extensive channel presence will be key for the next stage of our growth.”
The Roving Networks team, headed by Mike Conrad, will continue to operate out of its Los Gatos office.
About Roving Networks
The Roving Networks portfolio offers unique solutions for both Wi-Fi and Bluetooth data connections, including those to Smartphones using the iOS (iPhone®) or Android™ operating systems. Roving Networks solutions are typically aimed at sensors requiring long battery life and a responsive availability to network requests. Roving Networks modules offer fully embedded stacks that simplify customer designs, reducing wireless design cycles to weeks instead of months. Additional information may be found at http://www.microchip.com/get/7KXS.
About Microchip Technology
Microchip Technology Inc. (NASDAQ: MCHP) is a leading provider of microcontroller, analog and Flash-IP solutions, providing low-risk product development, lower total system cost and faster time to market for thousands of diverse customer applications worldwide. Headquartered in Chandler, Arizona, Microchip offers outstanding technical support along with dependable delivery and quality. For more information, visit the Microchip website at http://www.microchip.com/get/CMKT.
"Forward-Looking" and "Safe-Harbor" Statements are omitted