CAMARILLO, Calif.-- January 15, 2015 -- Semtech Corporation (Nasdaq: SMTC), a leading supplier of analog and mixed-signal semiconductors, today announced that it has completed the acquisition of assets of EnVerv, Inc., a privately-held supplier of Power Line Communications and Smart Grid solutions targeted at advanced metering infrastructure, home energy management systems and Internet of Things applications. In conjunction with the asset acquisition, the EnVerv team of employees has joined Semtech. The Company expects the acquisition to be neutral to its full year Fiscal 2016 results. Terms of the transaction were not disclosed.
Power Line Communications (PLC) technology enables communications via low-voltage (LV) and medium-voltage (MV) power lines providing an effective means for communications for Global Utility providers implementing Smart Metering solutions and for Telecom service providers implementing home gateway solutions. The PLC technology is complementary to Semtech's LoRa™ platforms, enabling Semtech to deliver a single platform that provides as close to 100% network coverage as possible in metering, machine to machine (M2M) and Internet of Things (IoT) markets.
"We are pleased to welcome the EnVerv team to Semtech. The acquisition is consistent with our philosophy of acquiring key system level competencies that position Semtech for future growth in targeted application segments. PLC technology is highly complementary to our current wireless LoRa solutions and expands Semtech's available market beyond the industrial wireless segment into the industrial PLC market and the residential gateway market. We believe that the Smart Home and the Smart Grid are still in their early stages of global development, and having both PLC and wireless technologies positions us well to take advantage of both segments," said Mohan Maheswaran, President and Chief Executive Officer of Semtech Corporation.
Semtech Corporation is a leading supplier of analog and mixed-signal semiconductors for high-end consumer, enterprise computing, communications and industrial equipment. Products are designed to benefit the engineering community as well as the global community. The Company is dedicated to reducing the impact it, and its products, have on the environment. Internal green programs seek to reduce waste through material and manufacturing control, use of green technology and designing for resource reduction. Publicly traded since 1967, Semtech is listed on the NASDAQ Global Select Market under the symbol SMTC. For more information, visit http://www.semtech.com.