Microchip Announces Acquisition Of Tekron - Quick Facts

(RTTNews) - Microchip Technology Inc. (MCHP) announced the acquisition of Tekron International Limited, which provides high-precision GPS and atomic clock time-keeping technologies and solutions for the smart grid and other industrial applications.

Randy Brudzinski, vice president of Microchip's Frequency and Timing Systems business unit, said: "Precise, accurate time is an enabling ingredient for virtually all infrastructures, from data centers, communications and industrial networks to financial exchanges. Acquiring Tekron enables us to expand our offering across a broad customer base in the rapidly expanding smart energy and industrial markets."