Alphawave has written a cheque to buy Precise-ITC an emerging leader in the Ethernet and Optical Transport Network (OTN) communications connectivity IP space.
The company had just finished the consolidation of its VeriSilicon reseller relationship with WiseWave to provide one interface to customers in China, in line with the plan communicated at the time of Alphawave IP’s IPO
The company said that buying Precise-ITC will result in the addition of a team of leading engineers focused on delivering a high-performance Ethernet and OTN communications controller IP portfolio.
This will provide Alphawave’s customers with an integrated IP bundle of Alphawave IP and Precise-ITC technology that extends Alphawave IP’s leadership in the networking and data centre markets.
The combined Alphawave IP and Precise-ITC IP solutions have already been integrated and fabricated in silicon products for several of Alphawave IP’s Product IP customers. The acquisition is Alphawave IP’s first such transaction since the completion of its IPO in May 2021.
The transaction is expected to close in January 2022 and will contribute revenue in 2022.
Tony Pialis, President and Chief Executive Officer of Alphawave IP stated: “At our IPO we discussed team and technology acquisition opportunities to further accelerate our growth and we are pleased to announce our first acquisition. Precise-ITC has been a great partner of Alphawave IP since 2019. They have built a high-end and profitable business with an international customer base. Now as one team, we will have an expanded and vertically integrated portfolio of communications IPs to service the most advanced global customers in the networking and data centre space. These customers include leading semiconductor companies and hyperscalers1 that demand high-performance connectivity solutions in 4nm, 3nm and beyond.”
Silas Li, Founder and President of Precise-ITC stated: “Our entire team is excited about the opportunity to join the Alphawave IP team and grow our business by leveraging the resources and technology of Alphawave IP. We have worked together since 2019 and our individual pipelines for Q4 2021 and 2022 are strong. By combining our capabilities, we will be able to accelerate both of our businesses and expand our pipeline even further.”
