CHIPMAKER Intel has acquired Silicon Hive, a system-on-chip (SoC) firm originally owned by Philips Electronics.
The company develops and licenses programmable parallel processor technology for SoC design, which it has been working on for the past decade. It has roughly 65 staff in offices around the world, including San Jose, Bangalore, Belgrade, Seoul and Tokyo.
In 2007 Philips spun off the company as a seperate entity, which received heavy investment from New Venture Partners and a smaller amount from TVM Capital.
This is not the first time Intel has invested in a company in New Venture Partners' portfolio. It previously invested in Flarion Technologies, later acquired by Qualcomm, and also in Sychip, neither of which Intel bought, however.
New Venture Partners was particularly pleased with the news of Intel's acquisition, since it puts Silicon Hive on a much higher footing in the industry and will therefore pay out handsomely to previous and current investors.
Intel appears to be on a spending spree lately, buying LTE company Sysdsoft for an undsiclosed amount earlier this week.
Financial details of this latest acquisition have not been disclosed. µ
Sign up for INQbot – a weekly roundup of the best from the INQ