Conexant Acquired By SMSC

Newport Beach-based semiconductor firm Conexant Systems is in a deal to be acquired by New York-based SMSC. The deal is worth approximately $284M in both stock and cash. According to SMSC, the deal will help it create a stronger analog/mixed signal R&D team, and allow the firms to scale and grow. Conexant has approximately 600 employees. As part of the acquisition, SMSC said that Conexant President and COO Sailesh Cittipeddi becomes Executive Vice President at the firm.