DUBLIN, Ireland-Parthus Technologies plc, which designs mobile platform-level technology, said it acquired Chicory Systems Inc. for $41.4 million in cash and stocks, a move which coincides with the company’s release of a new platform, MachStream.
Wall Street seemed to approve of the move-Parthus’ stock was up 7 percent to about $14 per share following the news.
Chicory Systems, which was incorporated in 1999 and has 26 employees, developed a technology that speeds up mobile Internet applications by migrating complex systems software into high-performance silicon, Parthus said. Parthus used the company’s technology for its new platform.
MachStream is a high-performance modular silicon platform that speeds up wireless Internet applications, including multimedia, Java and browser-scripting languages. The technology also cuts down on power usage and cost levels mobile devices require, the company said.
“We believe that MachStream is a critical technology for next-generation mobile devices,” said Kevin Fielding, the company’s president. “It will enable us to balance the consumer’s demand for advanced multimedia and Internet applications with the requirement for devices that are low cost, small size, light weight and have extended battery life.”
MachStream aims to improve the efficiency and performance of a variety of wireless Web applications, including JPEGs and GIFs, languages like xHTML and XML and mobile multimedia like MPEG-4 video streaming.
The news comes after Parthus posted strong revenue growth and some high-profile deals, including one with STMicroelectronics.
