Austin's High-Tech Hotbed Seals Another Buyout

AUSTIN-Cygnal Integrated Products Inc., based here, is joining a growing crowd of regional Internet solutions providers that is expanding through acquisitions.

Cygnal has announced its acquisition of SiLogiX LLC, a premier IP provider also based in Austin. “It’s a great fit,” says Tom David, former President of SiLogiX. “Our skills and IP portfolio are a perfect complement to Cygnal’s product road map.”

Cygnal’s president Derrell Coker says the acquisition will leverage his company’s expansion plans to develop a world-class IC company. The buyer set up shop in March 1999 and is a designer, manufacturer and marketer of field-programmable, mixed-signal System-on-Chip products and related support tools.

Austin is a hotbed of high-tech activity, keeping pace with operations from the nation’s premier tech industry in Silicon Valley, many of which are setting up offices in the state capital. Cygnal is backed with more than $15 million in venture capital funding from several companies including Austin Ventures, JatoTech Ventures, Cirrus Logic, Sanyo Semiconductor plus a core of well-known venture capitalists and private investors.