It appears that a failed merger with a competitor has resulted in the loss of approximately 300+ employees as Sigma Designs, based in Freemont, California, liquidates.
In the end, the competitor, Texas-based Silicon Laboratories, will purchase Sigma’s Z-Wave automation business for approximately $240 million pending shareholder and regulatory approvals. Other company assets will be liquidated on a best efforts basis.
“Z-Wave is a wireless communications protocol used primarily for home automation. It is a mesh network using low-energy radio waves to communicate from appliance to appliance, allowing for wireless control of residential appliances and other devices, such as lighting control, security systems, thermostats, windows, locks, swimming pools and garage door openers.”
Sigma is noted for creating system-on-chip products used to enable connect “smart” products. According to Sigma, “Whether you’re designing for devices or services, local control or cloud access, starting with a blank sheet or looking for quick turn-key, Sigma Designs’ Z-Wave development kits give you the hardware, software, accessories, and documentation you need to quickly create new Z-Wave products, or embed Z-Wave technology into your current and upcoming products. Kits are available for all major international frequencies.”
Are you asking yourself, Am I Next?