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US CHIPMAKER PMC SIERRA ACQUIRES ISRAELI WINTEGRA

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Thursday, November 4th, 2010

PMC-Sierra, a premier Internet infrastructure semiconductor solution
provider, is purchasing Wintegra Inc., a leading Israeli provider of
highly integrated network processors optimized for mobile backhaul,
3G and 4G wireless and wireline broadband networks.
PMC-Sierra is buying Wintegra for a net purchase price of $213 million
and will pay up to an additional $60 million based on growth and
performance milestones in 2011. Wintegra founders Kobi Ben-Zvi and
Robert O’Dell will join PMC-Sierra.
“Carriers are moving rapidly to IP-based mobile backhaul, and
Wintegra’s product offering is uniquely positioned to enable this packet
transition and breakthrough the bandwidth bottlenecks faced in mobile
networks,” said Greg Lang, president and chief executive officer of
PMC-Sierra.
“Given the strong strategic fit between the two companies, joining
forces will allow us to further accelerate the industry’s transition to IPbased
networks,” Kobi Ben-Zvi, founder and chief executive officer of
Wintegra, said.
Wintegra, founded in 2000, has 165 employees with the majority of its
R&D development team located in Ra’anana, Israel, and Austin, Texas.
In 2006, PMC-Sierra acquired Herzliya-based Passave, a developer of
system-on-chip semiconductor solutions for the Fiber To The Home
(FTTH) access market, for $300 million. In addition to the FTTH
market, PMC-Sierra also provides semiconductor solutions for
Enterprise and Channel Storage, Wide Area Network Infrastructure,
and Laser Printer/Enterprise market segments.