As first reported in “Globes”, Sigma Designs (SIGM.O) is to announce the acquisition of Israeli start-up CopperGate in the next couple of days. The price is 200-250 million.
CopperGate was in talks with Israeli company Mellanox Technologies Ltd. (Nasdaq:MLNX; TASE:MLNX) about an acquisition deal, but Mellanox withdrew.
CopperGate was founded in 2000 by David Baum and Israel Lifshitz. It is now managed by CEO Gabi Hilevitz. The company is one of the most prominent chipset start-ups in Israel, and was chosen as one of "Globes'" most promising start-ups for 2007-2008.
CopperGate has led the development of the HomePNA standard for high-speed data transmission in the home, at speeds of up to 320 Mbps. The standard uses existing copper telephony and power wiring for high-speed transmission of video, voice, and data between rooms and between users.
Published by Globes [online], Israel business news - www.globes.co.il - on October 12, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009