Cypress Semiconductor Buys Cirrent to Bolster IoT Solutions Business
Cypress Semiconductor bought software and cloud services company Cirrent to expand its IoT solutions offerings, it said Thursday. Cirrent helps users “bring IoT products online quickly and keep them connected,” solving two of the biggest barriers to companies’ IoT growth,…
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said Cypress CEO Hassane El-Khoury. Adding Cirrent allows Cypress to expand its software services revenue, and the company will bring on board Cirrent engineers, build on its scalable cloud platform and embrace its relationships with internet service providers and IoT product companies, El-Khoury said. Cirrent’s software lets users set up products without typing in passwords and ensures products stay connected even when network names and passwords are changed, it said. “As more companies develop business models and revenue streams enabled by connectivity, the increase in the connection rate from using Cirrent’s solution directly creates business value for customers.”