Microchip Technology aquires PowerSmart

Advanced Battery Technology, Jul 2002

Microchip Technology Inc. has completed the $54 million acquisition of PowerSmart, Inc.

PowerSmart delivers a battery management whole product solution which improves system runtimes up to 30% with a lower system cost for the user. Included is an application tools suite to speed up implementation during the user's development and production. Approximately 40 employees from PowerSmart have joined Microchip.

Steve Sanghi, Microchip's president and chief executive officer, said, "Combining PowerSmart's leading edge battery management technology and whole product sales solution with Microchip's leadership FLASH embedded control technology and cost efficient manufacturing will enable us to provide generations of cost-effective, high performance battery management integrated circuits to existing and new customers. Further, it will position us well to take advantage of the growing opportunity of smart battery management, and a strong trend towards mobility and portability, requiring battery-powered devices."

Microchip's headquarters are in Chandler, Arizona, with other facilities in Mountain View, California; Bangalore, India; Tempe, Arizona; Puyallup, Washington; and Bangkok, Thailand. The company employs about 2,950 people worldwide.