SMSC Aquires California-Based Technology Firm

SMSC, a Hauppauge-based manufacturer of semiconductors technology, announced it acquired BridgeCo on Thursday.

SMSC company officials said it purchased BridgeCo, a designer and manufacturer of audio and media networking technologies, for $40 million to enhance the company's position in the consumer technology and audio markets.

"With the acquisition of BridgeCo, we are significantly enhancing our consumer technology prowess as we further position SMSC as a preferred partner to the industry's top consumer audio device designers for best-in-class wireless audio solutions in the home or car," said Christine King, president and CEO of SMSC, in a statement.

Bridgeco's JukeBlox technology is used in tablets, smartphones, personal computers, Macs and various other consumer electronics. It's technology can be found in various household electronic brands including Pioneer, Philips, Denon and Harmon/Kardon.

The company's ownership could receive additional payments of up to $27.5 million under the deal if Bridgeco reaches pre-set performance goals each year. Bridgeco's headquarters are in California, with overseas offices in India and Japan, and has approxiately 100 employees.

SMSC also acquired Symwave in November 2010.

Read the full details on SMSC's acquisition of BridgeCo here.