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VeriSilicon to acquire Vivante Corporation

VeriSilicon Holdings Co., Ltd. and Vivante Corporation today announced a definitive merger agreement under which the companies will be combined in an all-stock transaction. The combined company, to be called VeriSilicon Holdings Co., Ltd., will offer robust IP-centric, platform-based custom silicon solutions and end-to-end semiconductor turnkey services.

Highlights of the transaction include:

  • Revenue for the combined company of more than $180 million for the year ended December 31, 2014;
  • Expected to be accretive to VeriSilicon’s non-GAAP earnings;
  • Establishes richer IP portfolio with the addition of licensable graphic cores (GPU);
  • Expands opportunities in the automotive market with established top OEM customers;
  • Increases exposure and content in IoT applications, as well as mobility applications, including smartphones, tablets, and connected TVs;
  • Leverages VeriSilicon’s extensive IP portfolio, design services capabilities and established direct sales channels worldwide;
  • Expands Tier 1 customer base

With the addition of Vivante’s GPU and vision image processing solutions, VeriSilicon continues to build out its Silicon Platform as a Service (SiPaaSTM) offering. Vivante has an established global customer base of over 50 licensees and has shipped more than 300 million units. Additionally, Vivante is a recognized industry leader in GPU solutions for automotive display, visualization and vision processing as well as mass market IoT applications. The combined company will hold a patent portfolio of more than 75 issued and pending U.S. patents and maintain operations in eight countries.

“This transaction creates an extensive semiconductor IP portfolio that will now include GPU cores, vision image processors, digital signal processors, video codecs, mixed signal IP and foundry foundation IP,” said Wayne Dai, VeriSilicon chairman, president and chief executive officer. “We expect our combined technology and scale will enable us to further extend our franchises in the automotive, IoT, mobility, and consumer market segments. Additionally, we share a strong culture of innovation and creativity that will provide significant benefits to our semiconductor, system and Internet platform customers by delivering best-in-class IP, design services and turnkey ASICs. This Silicon Platform as a Service (SiPaaSTM) model enables our customers to deliver high-quality, differentiated products in the fastest and most cost-effective way possible.”

“Together, VeriSilicon and Vivante will be well positioned to achieve even greater success,” said Weijin Dai, Vivante chief executive officer. “Our technology has been instrumental in providing PC-quality performance and experience at mobile power levels to create life-like graphics across a number of key end market segments and applications. VeriSilicon shares our vision for providing exceptional technology solutions that meet the unique requirements of automotive and IoT customers, as well as mobility, consumer and gaming customers. Our complementary products and capabilities will enable the combined company to pursue significant new growth opportunities, while delivering even greater value to customers, employees and shareholders.”

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