Cypress Buys Broadcom’s IoT Business, Acquiring Wi-Fi, Bluetooth, and ZigBee Product and IP
Cypress Semiconductor and Broadcom Limited recently signed an agreement in which Cypress will acquire Broadcom’s wireless Internet of Things (IoT) business. In accordance with the terms of the US$550 million all-cash deal, Cypress will get hold of Broadcom’s Wi-Fi, Bluetooth, and ZigBee (802.15.4) IoT product lines and IP, in addition to the WICED brand and developer ecosystem. With recent research from ABI forecasting that the IoT market, driven by the fast-growing smart home, wearable, and beacon verticals, will account for 28% of the Wireless Connectivity IC Market by 2021, the move will propel Cypress into a much stronger position within these areas, and enable it to take advantage of significant opportunities in this space.
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