LSI Logic acquires Metta Technology
Bangalore, Nov 22 (UNI) LSI Logic Corporation today announced the acquisition of Metta Technology for a cash consideration of US Dollar seven million.
The Pune-based Metta techhnology was a developer of multimedia system on chip technology and related software for consumer electronic products.
LSI Logic, in a release here, said the company had acquired all oustanding Metta Technology capital stock and retained the workforce of 60. They would join the LSI Consumer Product Group upon closing the transaction.
Commenting on the acquisition, LSI Logic Consumer Product Group Executive Vice-President Umesh Padval said the move would help LSI Logic to increase focus on delivering advanced, feature rich solutions required by next generation digital video and edutainment products. It would also improve the competitiveness of the company.
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