money good 88.
(photo credit: )
Sources inform “Globes” that semiconductor giant Broadcom Inc. made its seventh
acquisition in Israel a few days ago, acquiring image processing company Sightic
Vista Ltd. The acquisition was reportedly for $10-20 million, less than Broadcom
normally spends and below the threshold requiring notification.
confirmed the acquisition, but declined to provide additional
Sightic declined to comment.
Sightic president and CEO
Noam Sorek, VP product management Ron Fridental, and VP of R&D Dr. Ilia
Vitsnudel founded the company in 2001. The three specialists in video and
imaging processing had worked together for a decade before co-founding the
Sightic develops software and hardware for image processing and
enhancement solutions for integration into high quality, miniature digital
cameras and video applications.
The solutions include algorithms for
processing images and multimedia applications for mobile devices. Relatively
little was invested in the company by private investors, with no involvement by
venture capital funds.
Geographically, Sightic’s premises are close to
Broadcom’s Israel development center at Yakum, a few kilometers north of
Herzliya. Strategically, however, the companies operate in different
Sightic’s image processing will fit in with Broadcom’s mobile
division, which oversees the company’s multimedia operations.
will integrate Sightic’s technology into its telecommunications processors,
making Broadcom’s products more interesting for mobile telephone manufacturers
now that multimedia has become a core feature of mobile
Broadcom’s Israeli development center has grown rapidly in the
past year. Its previous acquisition was Percello Ltd., a developer of
telecommunications processors for shortrange networks, for $88 million, in late
October. Last year, Broadcom acquired Dune Networks Inc., a developer router
technology for enterprise networks, for $180 million.
According to Israel
Venture Center, Sightic has begun to show revenue, and has customers from among
the world’s top consumer electronics manufacturers, including Samsung
Electronics Co. Ltd. and LG Electronics Ltd., both relevant for Broadcom
in this market. The company has several dozen employees.