Pixelworks to acquire ViXS Systems in $28 mln deal
Pixelworks Inc (NASDAQ: PXLW) has agreed to acquire ViXS Systems Inc (TSX: VXS), a Toronto-based provider of media processing, encoding and transcoding solutions. The all-stock transaction is valued at about $28 million (US$20.2 million). Pixelworks, a U.S. visual processing solutions provider, said the deal will accelerate its development of end-to-end video streaming solutions. Founded in 2001, ViXS Systems was venture-backed before going public in 2013. The company's founding investor, Canadian venture capital firm Celtic House Venture Partners, remains a shareholder, as does New Enterprise Associates. The acquisition is expected to close in Q3 2017.
19 May 2017•6 mins read
