Hyderabad, July 31 (IANS) US-based silicon proven IP solutions provider INVECAS Inc. has announced that it has signed a definitive agreement to acquire Lattice Semiconductor Corporation’s HDMI design team and Simplay Labs subsidiary. Also Read - Chinese Cyberattack Behind Mumbai's Last Year Power Outage, Report Claims

This transaction will include the transfer of approximately 150 research and development (R&D) staff, labs and other assets from Lattice’s operations in US, Hyderabad and China. Also Read - China Approves 2 More Homegrown Coronavirus Vaccines, Taking Total to 4

The transaction has been unanimously approved by the boards of directors of both companies and is expected to close in August 2017, said a statement by INVECAS here. Also Read - Hyderabad Student Who Faked Rape, Abduction 2 Weeks Ago Dies by Suicide

INVECAS is a leading provider of silicon proven IP solutions and ASIC Design Services optimised for Advanced Process Technologies, Embedded Software and System-level Solutions headquartered in Santa Clara, California. Simplay Labs oversees standards compliance and interoperability testing services.

“This strategic transaction is good for Lattice, INVECAS, and the HDMI ecosystem. It not only helps us to support our existing HDMI ASSP business, but also fosters a collaboration between the companies to speed the development and adoption of both existing and new HDMI standards,” said Darin G. Billerbeck, Lattice Semiconductor’s President and Chief Executive Officer.

“We are excited to acquire Lattice’s world-class HDMI development team and R&D labs and Simplay Labs. Lattice has successfully established numerous global connectivity technology standards, built a highly valued intellectual property portfolio, delivered industry leading, feature-rich ASSPs, as well as provided trusted testing and compliance services to the consumer electronics industry,” said Dasaradha Gude, Chief Executive Officer of INVECAS.

This is published unedited from the IANS feed.