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News Article

Virage Logic acquires Impinj's logic non volatile memory IP business

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This acquisition will extend Virage Logic’s market position and enables Impinj to focus on RFID business.
Virage Logic Corporation and Impinj, a provider of UHF Gen 2 radio frequency identification (RFID) solutions, announced that Virage Logic has acquired Impinj's logic non volatile memory (NVM) intellectual property (IP) business for an aggregate purchase price of $5.2 million. The purchase extends Virage Logic's embedded memory leadership position into the rapidly growing NVM market for standard CMOS processes.
 
Virage Logic has acquired Impinj's solutions for logic NVM IP and added more than 50 Impinj patents to its already robust IP portfolio. In addition to the acquisition of assets, Virage Logic has hired approximately 30 former Impinj employees who were responsible for the company's logic NVM IP business. Approximately 90 percent of these employees are involved in research and development, with the balance employed in marketing and sales positions.
 
"The acquisition of Impinj's logic NVM IP business represents another element toward attainment of our core vision of establishing Virage Logic as a broad line supplier of highly differentiated physical and application specific IP to the semiconductor industry. As we have in the recent past, we will continue to drive our revenue and earnings growth using both organic and inorganic initiatives. We believe that this broadening of our IP offering will benefit our customer base, particularly our global IDM, foundry and fabless customers," said Dan McCranie, chief executive officer (CEO) and chairman of Virage Logic. "Our newly expanded logic NVM IP product portfolio, together with our recently introduced 40 nm SiWare memory compilers and logic libraries, and the double data rate (DDR) memory interface IP product portfolio from our acquisition of Ingot Systems last year, underscores our ability to serve as a broad line, single source provider of highly differentiated IP. We have completed our plan of record for this purchase, and as a result, we believe that this transaction will have a neutral to slightly negative impact on our earnings in the fourth fiscal quarter of 2008, and should contribute approximately $0.03 to $0.06 per share to our earnings in fiscal 2009."
 
"Virage Logic offers an exceptional environment for our talented team to continue to advance the development of an industry leading product line and to broaden its distribution through a worldwide sales and support channel," said William Colleran, president and CEO of Impinj. "Moving forward as a pureplay RFID provider, Impinj will rely on Virage Logic as our provider for the logic NVM IP technology we require for our extensive RFID product offering."
 
"Impinj's strong logic NVM IP product portfolio provides the perfect complement to our existing NVM product offering. Impinj's IP products include the popular AEON family of embeddable cores, which provide rewriteable NVM technology in logic CMOS manufacturing. Virage Logic has enjoyed strong acceptance in the defense and security markets with its NOVeA embedded NVM product line, while Impinj has seen a strong complementary demand in high-volume consumer markets with their multi time programmable, few time programmable, and high voltage NVM products," said Brani Buric, vice president of product marketing and strategic foundry relationships for Virage Logic. "The combined product line establishes the industry's broadest logic NVM IP product portfolio ranging from 250 to 65nm solutions, servicing markets ranging from high volume consumer and industrial to automotive and security conscious applications including military. We are committed to supporting both product lines and delivering on stated product roadmaps so that customers can continue to proceed with confidence with Virage Logic as their trusted IP partner."
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