Elron announces acquisition by ChipX of Oki’s U.S. ASIC business assets
Elron Electronic Industries Ltd. has announced that ChipX Corporation, 29% held by Elron has completed the acquisition of the US ASIC business assets of Oki Semiconductor Company, a division of Oki America Inc. In addition, ChipX and Oki Semiconductor have signed a collaboration agreement which will enable ChipX to gain access to Oki semiconductor's technology, libraries and foundry services. This transaction will boost ChipX's ASIC team capabilities and enable it to offer its customers a range of differentiated ASIC solutions of embedded arrays, gate arrays, structured ASICs and standard cell ASICs.
"This acquisition will potentially double ChipX's revenues in 2007 and will position ChipX as a major ASIC supplier in North America," said Doron Birger, President & Chief Executive Officer of Elron and Chairman of the Board of ChipX.
