Memsic pays $18M for Crossbow Technology assets

By Mass High Tech staff

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Memsic Inc., an Andover-based maker of micro-electromechanical (MEMS) devices, has acquired certain assets of smart sensor developer Crossbow Technology Inc. for $18 million in cash. Assets included Crossbow’s eKo environmental monitoring business, Wireless Sensor Network “Mote” business and the non-military Inertial Systems business lines.

Memsic makes MEMS-based accelerometers, also known as inertial sensors, and other products for the semiconductor industry.

According to a Memsic (Nasdaq: MEMS) news release, the acquisition will add Crossbow sensor system engineers to the Memsic team, in addition to certain sales and marketing employees. The assets include both intellectual property and certain product lines, which made up about $10 million in sales for Crossbow.

Crossbow was founded in 1995 and is based in San Jose, Calif.

Memsic first went public in 2007 with an IPO priced at $60 million.

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