Semiconductor producer Intel has acquired network-on-chip (NoC) technology provider and portfolio company NetSpeed Systems for an undisclosed sum in a deal that also enabled semiconductor manufacturer SK Hynix to exit.
Founded in 2011, NetSpeed has developed an NoC tool that automates parts of the system-on-chip design process for chipmakers. Sundari Mitra, the company’s co-founder and CEO, had spent four years as a design engineer at Intel from 1988 to 1992.
Intel will incorporate NetSpeed into its Silicon Engineering Group and plans to use the company’s technology to help it design, create and test new system-on-chip products.
The company raised an undisclosed amount of series B funding in 2014 from Intel’s corporate venturing unit, Intel Capital, and Walden-Riverwood Ventures, the partnership formed by venture capital firms Walden International and Riverwood Capital.
Intel Capital subsequently led a $10m series C round for the company in late 2016 that included Walden-Riverwood Ventures and SK Hynix. NetSpeed has not disclosed details of any funding pre-2014.
Mitra said: “Intel has been a great customer of NetSpeed’s, and I am thrilled to once again be joining the company.
“Intel is world class at designing and optimising the performance of custom silicon at scale. As part of Intel’s Silicon Engineering Group, we are excited to help invent new products that will be a foundation for computing’s future.”