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|Traded as||NASDAQ: CY|
|Founded||Silicon Valley, California,
United States (1982)
|Headquarters||San Jose, California,
Number of locations
|14 Design Centers, 40 Sales Offices (2000)|
|Hassane El-Khoury (President and CEO)|
|Revenue||US$1.627 billion (2015)|
Number of employees
|Divisions||Programmable Systems Division, Memory Product Division, Data Communications Division, Emerging Technologies Division Division|
Cypress Semiconductor Corporation is an American semiconductor design and manufacturing company. It offers NOR flash memories, F-RAM and SRAM Traveo microcontrollers, the industry’s only PSoC programmable system-on-chip solutions, analog and PMIC Power Management ICs, CapSense capacitive touch-sensing controllers, Wireless BLE Bluetooth Low-Energy and USB connectivity solutions.
It was founded by T. J. Rodgers and others from Advanced Micro Devices. It was formed in 1982 with backing by Sevin Rosen and went public in 1986. The company initially focused on the design and development of high speed CMOS SRAMs, EEPROMs, PAL devices, and TTL logic devices. Two years after going public the company switched from the NASDAQ to the New York Stock Exchange. In October 2009, the company announced it would switch its listing to the NASDAQ on Nov. 12, 2009. Its headquarters are in San Jose, California, and it has operations in the United States, Ireland, India and the Philippines. Cypress named Hassane El-Khoury its president and chief executive officer, and announced he will join the board of directors on Aug. 11, 2016.
Acquisition and internal startup strategy
Since its founding, Cypress has acted as an incubator for wholly owned subsidiaries which are given a degree of autonomy and has acquired other small technology companies. In addition, Cypress has been an active acquirer of smaller technology companies. Since the early 1990s, these acquisitions have included:
- Timing Technology
- IC Design
- IC Works
- International Microcircuits Inc.
- USB Technology
- Anchor Chips
- In-System Design
- PSoC Technology
- Cypress Microsystems
- RAM Technology
- Radio Frequency Technology
- Solar Cell Technology
- SunPower (distributed to CY shareholders in 2008 as SPWRB stock)
- Image Sensors
- Silicon Light Machines
- FillFactory (sold to ON Semiconductor)
- SMaL Camera Technologies(Sold to Sensata Technologies in 2007)
- Silicon Packets
- Lara Networks
- HiBand Semiconductors
In addition, Cypress has incorporated some of its technology into subsidiaries, to speed up development of such products as the PSoC Programmable System-on-Chip (SoC) that integrates analog and digital components with a microcontroller on a single chip to form a complete solution for embedded systems.
AgigaTech, Inc. sells non-volatile random-access memory (RAM) and is based in San Diego, CA. It was acquired during the Simtek purchase in August 2008, and marks the second time that Cypress acquired a start-up venture from founder, Ron Sartore (who co-founded Anchor Chips as well.)
In November 2011, Cypress also backed a packaging firm called Deca Technologies, Inc. In April 2016, it was announced that Advanced Semiconductor Engineering, Inc. will invest $60 million in Deca and will license Deca’s M-Series Fan-out Wafer-Level Packaging (FOWLP) technologies and processes. As part of the agreement, ASE group and Deca will jointly develop the M-Series fan-out manufacturing process and will expand production of chip-scale packages using this technology.
In December 2014, Cypress Semiconductor merged with Spansion in an all-stock deal worth $1.59 billion. The merger represented the combination of two companies that were No. 1 in their respective memory markets and have successfully diversified into embedded processing. In March 2015, Cypress and Spansion closed the merger in an all-stock, tax-free transaction valued at approximately $5 billion. Cypress shareholders approved the issuance of 2.457 shares of Cypress stock to Spansion shareholders for each Spansion share they own. The merger is expected to achieve more than $135 million in cost synergies on an annualized basis within three years and to be accretive to non-GAAP earnings within the first full year after the transaction closes.
Broadcom Wireless Internet of Things acquisition
In April 2016, Cypress announced the acquisition of Broadcom’s Wireless Internet of Things (IoT) business and related assets in an all-cash transaction valued at $550 million. Under the terms of the deal, Cypress will acquire Broadcom's Wi-Fi, Bluetooth and Zigbee IoT product lines and intellectual property, along with its WICED brand and developer ecosystem.
Failed bid for Integrated Silicon Solution Inc.
Cypress attempted in 2015 to acquire Integrated Silicon Solution Inc. in 2015 but was thwarted by a competing bid by Chinese buyer consortium Uphill Investment Co., which included GigaDevice, a major competitor in the NOR flash market. This buyer consortium offered a higher bid than Cypress and successfully acquired ISSI for $731 million.
Cypress is headquartered in San Jose, CA and has manufacturing plants in Austin, TX and Bloomington, MN, assembly and test operations in the Philippines and Bangkok, Thailand. Cypress has design facilities in the United States (including San Jose, CA; Lynnwood, WA; Colorado Springs, CO; Lexington, KY; San Diego, CA; and Beaverton, OR), Japan (Tokyo), Germany (Langen and Munich), India (Bangalore), China (Shanghai), Ukraine (Lviv), Ireland (Cork) and other locations. Cypress has divested a large portion of its San Jose campus to SVTC, SunPower and Second Harvest Food Bank.
- "2015 Cypress Semiconductor Annual Report" (PDF).
- "Cypress Semiconductor Corp. to Switch Stock Exchange Listing to NASDAQ on November 12". 2009-10-30. Retrieved 2009-10-30.
- Clark, Don (2016-08-11). "Cypress Semiconductor Picks New CEO From Auto Tech". Wall Street Journal. ISSN 0099-9660. Retrieved 2016-08-23.
- Bloomberg. “Company Overview of IC Works, Inc..” Retrieved August 25, 2016.
- Dylan McGrath, EE Times. "Cypress-backed packaging firm launches." November 9, 2011. Retrieved November 9, 2011.
- "Cypress Subsidiary Deca Technologies to Receive $60 Million Investment from ASE".
- "Cypress and Spansion Complete $5 Billion All-Stock Merger".
- "Cypress to Pay $550 Million for Broadcom's IoT Business | EE Times". EETimes. Retrieved 2016-06-07.
- "ISSI Shareholders Approve Acquisition by Uphill Investment". Bloomberg. June 30, 2015.
- "Cypress Semiconductor 2015 Form 10-K Annual Report".
- 300® Patent Index. Ocean Tomo. Retrieved on 2013-11-20.