LSI Logic buys Metta Tech
LSI Logic Corporation today announced it has acquired Metta Technology, Inc for $7 million in cash. Metta Technology Inc, a privately held company with principal offices in Pune, develops multimedia system-on-chip technology and related software for consumer electronics products.
"Through the acquisition of Metta Technology, we are increasing our focus on delivering the advanced, feature-rich solutions required by next generation digital video and edutainment products," said Mr Umesh Padval, Executive Vice President, Consumer Products Group, LSI Logic.
Under the terms of a definitive agreement, LSI has acquired all outstanding Metta Technology capital stock. Additionally, LSI has retained the Metta Technology workforce consisting of 60 employees, who joined the LSI Consumer Products Group upon closing of the transaction.
Source:
