Actrans bought for $20 million

News

Silicon Storage Technology, a provider of flash memory technology, today announced it has acquired all of the shares of Actrans Systems.

(Silicon Storage Technology), a provider of flash memory technology, today announced that it has acquired all of the shares of privately held Actrans Systems.

Founded in 2000 and headquartered in Hsinchu, Taiwan, Actrans Systems is a fabless IC company that designs flash memory and EEPROM. SST plans to incorporate Actrans' split-gate NAND flash technology into its portfolio of licensable IP.

Under the terms of the share purchase agreement, which was signed on April 11, SST will pay Actrans' shareholders approximately $20 million in common stock and cash. SST expects to complete the purchase of the remaining three percent of shares this week. The company's engineers will be merged into SST's Standard Memory Product Group, working in both Taiwan and the United States.

Actrans Systems is a designer and developer of flash memory technology and products that also offers IP services for embedded and customer specific applications using flash memory and EEPROM IP macros.

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