CHANDLER (dpa-AFX) - Friday, Microchip Technology Inc. (MCHP) announced the acquisition of VORAGO Technologies, Inc., a privately held provider of radiation-hardened and radiation-tolerant microcontrollers and microprocessors. The terms of the deal were not disclosed.
The acquisition brings a family of radiation-hardened MCUs and MPUs that complement Microchip's existing aerospace and defense product lines, along with VORAGO's patented HARDSIL process technology.
The transaction is expected to help Microchip capture a larger share of the A&D and space markets, as well as strengthen technical capabilities.
'The acquisition of VORAGO strengthens our ability to support development in these demanding markets and reinforces our commitment to investing in technologies that align with our long-term growth strategy,' said CEO Steve Sanghi.
In pre-market hours, MCHP was trading at $76.18, up 0.87 percent on the Nasdaq.
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