Semtech buys wireless charging startup

March 09, 2015 // By Peter Clarke
Mixed-signal chip company Semtech Corp. has acquired Triune Systems LLC, a privately held supplier of wireless charging and power management platforms, for $45 million. The initial sum paid is $35 million with a further $10 million payable after six months contingent upon certain future financial goals being achieved.

Triune Systems was founded in 2006 and its multi-mode wireless charging platforms currently in production offer power levels from 0.1W up to 20W while platforms in the prototype stage are expected to deliver up to 100W of power.

In addition to its portfolio of wireless charging platforms, Triune Systems has also developed an isolated switching platform that is targeted at home automation and other industrial markets. This platform has been designed to replace larger, less efficient solid state and mechanical relays.

The acquisition will add approximately 35 employees with the majority of these employees based in Plano, Texas. Ross Teggatz, founder and CEO of Triune joins Semtech as general manager of Semtech's power management and high-reliability product group reporting directly to Semtech CEO, Mohan Maheswaran.

"The acquisition of Triune Systems is consistent with our philosophy of acquiring key core competencies that position Semtech as a leading analog and mixed signal solutions provider in targeted high growth application segments," said Maheswaran, in a statement.

Semtech expects to fund the aggregate purchase price using its revolving line of credit. Semtech expects the deal to be slightly accretive for its fiscal year 2016.

Related links and articles:

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