Friday, November 5, 2010

Microchip Completes Integration Of SST

Chandler, Arizona-based Microchip Technology announced Thursday evening that it has decided to retain the RF and Superflash Memory units of Silicon Storage Technology, the firm Microchip acquired in April. The company--which said at the time that it intended to sell off those two units of SST--said it has decided there are "synergies" between the company's RF business and Microchip's wireless, microcontroller, and analog businesses. The company also said it has improved the gross margins of SST's memory business, after divesting its low margin businesses to a Taiwanese firm. The announcement was made as part of Microchip's quarterly results, where it reported quarterly net sales of $382.3M.