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ROCKVILLE, Md., May 10, 2021 /PRNewswire/ CEVA, Inc. (NASDAQ: CEVA), the leading licensor of wireless connectivity and smart sensing technologies, today announced that it agreed to acquire Massachusetts-based Intrinsix Corp., a leading 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 CEVA s leading-edge wireless connectivity and smart sensing IP 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 & defense, medical, robotics and Industrial IoT (IIOT).