Vitesse Acquires Cicada for GigE Switching Silicon

Vitesse Semiconductor agreed to acquire Cicada Semiconductor, a start-up based in Austin, Texas, for approximately $66 million in cash. Cicada is a supplier of DSP-based integrated circuit solutions to developers of high-speed communications systems used in LANs. Vitesse expects the Cicada products to contribute about $10 million in revenues in calendar 2004, with a majority to be realized in the second half of the year. As part of the deal, Cicada will have to reduce its workforce to approximately 40 employees.
http://www.vitesse.com
http://www.cicada-semi.comCicada Semiconductor has previously announced a total of $37 million in funding. The company was founded in 1996. Investors included Sevin Rosen Funds and Perot Investments.