Parade Technologies Buys Majority Of Spectra7's Assets

(RTTNews) - Semiconductor developer Parade Technologies, Ltd.(4966.TWO), announced on Sunday that it had entered into a definitive agreement with Canadian analog semiconductor firm Spectra7 Microsystems Inc. (SEV,SPVNF) to acquire the majority assets of the latter.

Parade Technologies will acquire majority of Spectra7's assets including intellectual property or IP, products, designs, inventory, and other specified items.

The transaction, financial terms of which are not known, is scheduled to be completed in the second quarter of 2025.

Following the deal, Parade Technologies plans to make use of Spectra7's SiGe-technology to achieve data speeds of 112 Gbps and higher. This is expected to accelerate the company's efforts to enter high-growth markets like as data centers, AI-powered computing, and next-generation consumer electronics.

The company added that as part of the takeover, a majority of Spectra7's employees will become part of its workforce.