Sony buys Israeli chipmaker Altair for $212 million
Sony on Tuesday said it will buy Israeli chipmaker Altair Semiconductor for $212 million.
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The deal comes as Sony prepares to step up its focus on chip technology for Internet of Things sensors.
Founded in 2005 by former Texas Instruments execs, Altair develops modem chip technology that allows small devices such as security alarms and power meters to connect to the Web.
Sony aims to combine Altair's chipsets with its sensing technologies and image sensors to develop new cellular-connected, sensing component devices.
"More and more 'things' are expected to be equipped with cellular chip sets, realizing a connected environment in which 'things' can reliably and securely access network services that leverage the power of cloud computing," Sony chief executive Kazuo Hirai said in a statement.
Hirai has worked to move Sony away from consumer electronics in recent years in an effort to drive growth in image sensors, video games and movies.
In October Sony scooped up Toshiba's image sensor operations in order to bolster its position as a strong player in the image sensor industry. The deal gave Sony Toshiba's sensor manufacturing facility in Oita, south Japan, as well as Toshiba's 1,1000 engineering and design staff at the plant.
The Altair acquisition is expected to close early next month and Sony says it will not have a material impact on the company's financial results for 2016.