Sony Corporation has announced that it has reached an agreement with Altair Semiconductor and its major shareholders to acquire the company in a $212 million deal.
The purchase price is $212 million and Sony expects to complete the acquisition in early February, 2016.
Altair, an Israel-based company, owns modem chip technology and related software for LTE (Long Term Evolution), a 4G cellular standard for mobile devices.
The technology company develops and sells products focused on LTE technology, and its modem chips stand out for their low power consumption, high performance and competitive cost.
According to Sony, LTE is already widely used in data communication for mobile phones and is also expected to play a pivotal role in the interconnection of the Internet of Things (“IoT”).
Going forward, more and more “things” are expected to be equipped with cellular chipsets, realising a connected environment in which “things” can reliably and securely access network services that leverage the power of cloud computing, Sony says.
With the acquisition of Altair, Sony aims to not only expand Altair’s existing business, but also to move forward with research on and development of new sensing technologies.