Robert Bosch, NEC and Sumitomo Mitsui Banking all exited the semiconductor technology company as it was acquired in an all-cash deal.
Semiconductor producer MegaChips Corporation agreed on Monday to acquire US-based analogue semiconductor technology provider SiTime Corporation in a $200m cash deal that provided an exit to several corporate investors.
SiTime produces microelectromechanical (MEMS)-based smart-timing semiconductor components, a field in which it claims an 80% market share. MicroChips intends to expand and diversify its product range and customer base through the purchase.
SiTime had raised about $65m in funding as of 2011, before closing an undisclosed amount of funding in November…
