December 28, 2003 1 min read

Vitesse Acquires Cicada for GigE Switching Silicon

Vitesse Semiconductor agreed to acquire Cicada Semiconductor, a start-up based in Austin, Texas, for approximately $66 million in cash. Cicada is a supplier of DSP-based integrated circuit solutions to developers of high-speed communications systems used in LANs. Vitesse expects the Cicada products to contribute about $10 million in revenues in calendar 2004, with a majority to be realized in the second half of the year. As part of the deal, Cicada will have to reduce its workforce to approximately 40 employees.
http://www.vitesse.com
http://www.cicada-semi.comCicada Semiconductor has previously announced a total of $37 million in funding. The company was founded in 1996. Investors included Sevin Rosen Funds and Perot Investments.

Editorial responsibility

Staff

Editor & Publisher

Every article published by Converge Digest is researched, curated, fact-checked and editorially reviewed by Jim Carroll, Editor & Publisher. AI-assisted drafting may be used to accelerate production, but all content is reviewed, refined and approved prior to publication.

Email Jim