AP NEWS

Molex Announces Acquisition of BittWare

May 14, 2018

LISLE, Ill.--(BUSINESS WIRE)--May 14, 2018--Molex, a leading global manufacturer of electronic solutions, announced today the acquisition of BittWare, Inc., a global leading provider of computing systems featuring field-programmable gate arrays (FPGAs) deployed in data center compute and network packet processing applications.

“Among the foremost FPGA computing platform developers, BittWare brings an impressive breadth of board-level computing technologies, integrated systems and software expertise,” said Tim Ruff, senior vice president of Molex.

According to Mark Gilliam, president of Interconnect Systems International, a Molex company, “The acquisition expands on the capabilities of Molex and its subsidiary Nallatech to address the rising demand for FPGA-based high-performance compute and network processing solutions.”

Headquartered in Concord, NH, BittWare provides solutions based on FPGA technology from Intel (formerly Altera) and Xilinx. Many of the world’s leading companies use BittWare FPGA solutions to provide the processing power for demanding applications in compute and data center, military and aerospace, government, instrumentation and test, financial services, broadcast and video.

“FPGA-based platforms have become a strategically important driver of machine learning, artificial intelligence, cybersecurity, network acceleration, IoT, and other megatrends. As a Molex subsidiary, now working with Nallatech, I believe we will have the critical mass to bring new resources, better processes, and economies of scale to our valued customers and this rapidly growing industry as a whole,” said Jeff Milrod, president and CEO of BittWare.

BittWare commercial products turn the latest FPGA device features into reliable board-level solutions, suitable for both development and deployment in integrated servers. The company serves original equipment manufacture (OEM) customers, who value the decades of engineering experience BittWare brings to designing custom solutions and manufacturing them at scale with partners such as Benchmark Electronics. BittWare products are supported with extensive tools, FPGA IP, and in-house technical support staff.

Philpott Ball & Werner, LLC acted as BittWare’s financial advisor. Financial terms of the transaction were not disclosed.

For more information about Molex BittWare FPGA solutions, please visit www.molex.com.

About Molex:

Molex brings together innovation and technology to deliver electronic solutions to customers worldwide. With a presence in more than 40 countries, Molex offers a full suite of solutions and services for many markets, including data communications, consumer electronics, medical, industrial, automotive, and commercial vehicle. For more information, please visit  www.molex.com.

Molex is a registered trademark of Molex, LLC in the United States of America and may be registered in other countries; all other trademarks listed herein belong to their respective owners.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180514006190/en/

CONTACT: Outlook Marketing Services

Christa Carroll

Senior Vice President

630.408.9164

Christa@outlookmarketingsrv.com

KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS NEW HAMPSHIRE

INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT ELECTRONIC DESIGN AUTOMATION INTERNET SOFTWARE TELECOMMUNICATIONS OTHER TECHNOLOGY SECURITY SEMICONDUCTOR MANUFACTURING ENGINEERING

SOURCE: Molex

Copyright Business Wire 2018.

PUB: 05/14/2018 02:26 PM/DISC: 05/14/2018 02:26 PM

http://www.businesswire.com/news/home/20180514006190/en

AP RADIO
Update hourly