Microchip Technology to Buy ISSC Technologies to Gain Ground on The Internet of Things

Microchip

Microchip Technology Inc said it would buy Taiwanese wireless products maker ISSC Technologies Corp to gain ground in a technology that helps connect everything from cars to lightbulbs through the Internet. Microchip, which makes memory and analog chips, has been trying to cash in on the “Internet of Things”, like other technology companies such as Intel Corp, Cisco Systems Inc and Nvidia Corp. Intel set up a business division last year, aimed at making money out of the new technology wave that can link a host of electronic devices. Zebra Technologies Corp, whose products help companies such as Amazon Inc track inventory and supply chains, said in April it would buy Motorola Solutions Inc’s enterprise business to enhance its portfolio of Internet-connected devices. Microchip’s offer of $4.74 per share, or T$143, is at a premium of 16.7 percent to ISSC’s Thursday close of $122.50.

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