CEVA has agreed to acquire Massachusetts-based Intrinsix Corp., a chip design specialist, for approximately $33 million in cash, subject to working capital and other customary purchase price adjustments. The closing of the acquisition is anticipated to take place during the second quarter of 2021. The combination of Intrinsix’s broad chip design capabilities and IP together with leading-edge wireless connectivity and smart sensing IP from CEVA enables a unique proposition of a full turnkey IP platform that lowers entry barriers for OEMs, IT companies and Tier 1s considering the development of their own advanced chips in market verticals such as 5G infrastructure, automotive, aerospace and defense, medical, robotics and Industrial IoT (IIoT).
For nearly 35 years, Intrinsix has been providing complex System-on-Chip (SoC) design expertise in the areas of RF, mixed signal, digital, software, secure processors and interface IP for Heterogenous SoCs (HSoCs), otherwise referred to as chiplets. With more than 1,500 successful designs with a customer base that includes blue chip names such as Intel, IBM, Leidos and Lockheed Martin, Intrinsix commands a strong foothold in aerospace & defense, a market that is estimated to reach $6 billion in semiconductor spending in 2022. Intrinsix is also involved in the development of chiplets and secure processors for DARPA projects.