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Parade will acquire Cypress's TrueTouch Mobile business

  • Author:Abby
  • Release on :2015-06-15

Parade Technologies and Cypress Semiconductor have entered into a definitive agreement under which Parade will acquire Cypress's TrueTouch Mobile touchscreen business for an aggregate acquisition price of US$100 million in cash, according to the companies.

Post-acquisition, Parade will provide TrueTouch solutions to mobile customers and expand into other consumer-oriented segments. Markets to be served by Parade will include smartphones, tablets, notebooks/PCs, monitors, wearable technology, GPS systems, digital cameras, and certain industrial segments. Cypress will continue to provide TrueTouch solutions to its automotive and home appliance customers and CapSense button-replacement solutions to its mobile customers.

Parade believes that this acquisition will substantially expand its addressable market. Combining Parade's leadership position in Embedded DisplayPort (eDP) timing controllers with Cypress's state-of-the-art technology in capacitive touch-sensing, Parade expects to provide platform-level solutions with a complete portfolio of products for its display customers. The acquisition will also improve the operational efficiency of the industry supply chain.

Parade intends to fund the transaction with US$100 million cash on hand. The transaction, which is subject to customary closing conditions, is expected to close during the third quarter of 2015, the companies said.