S3 Group has agreed to sell its semiconductors business to US-based Adesto Technologies for an undisclosed sum.
The group, which is headquartered in Ireland, is involved in the communications, video, healthcare and semiconductors sectors. With the sale of the semiconductors unit, the company will now concentrate on its connected health division, which employs employs 200 people in Ireland, Poland and the US.
The semiconductors unit designs advanced mixed signal chips, and manages the supply of production devices to its customers. The unit has its headquarters in Dublin, and has offices in the US, Portugal and the Czech Republic. It has a global customer base.
S3 chief executive John O’Brien said the deal represented a “compelling opportunity” for staff and customers.
"Over the years, S3 Semiconductors has built a first-class team that is focused on creating complex, high-quality custom products. This deal represents a compelling opportunity for S3 Semiconductors' employees, customers and other stakeholders as the business becomes part of a highly synergistic organization with a global footprint," he said.
Adesto chief executive Narbeh Derhacobian said the deal would build on the company's position a leading provider of memory technology to customers across internet of things markets.
“S3 Semiconductors has a proven track record of designing and delivering differentiated mixed- signal and RF System-on-Chip products as well as an extensive IP portfolio which has been developed by a talented team of advanced design engineers over many years,” he said. “With the addition of new technologies and expertise, we can better serve our customers by offering a broader range of innovative semiconductor products.”
