Corporate History
Sierra Semiconductor was originally founded in 1984 in San Jose, California, and went public in 1991. It received funding on 1/11/1984 from Sequoia Capital.
Pacific Microelectronics Centre (Burnaby, British Columbia, Canada) was spun off from Microtel Pacific Research (the research arm of BC TEL at the time) to develop ATM and later SONET chips. With investment from Sierra Semiconductor, PMC was established in 1992 as a private company focused on providing networking semiconductors, and became a wholly owned, independently operated subsidiary of Sierra Semiconductor in 1994. Microtel is currently a part of Verizon.
In August 1996, Sierra Semiconductor announced its decision to exit the personal computer modem chipset business, to restructure its other non-networking products and focus on its networking products. In 1997, the Company changed its name to PMC-Sierra to reflect the corporate focus on internetworking semiconductor solutions.
In May 2006, PMC-Sierra acquired Passave, Inc., a developer of system-on-chip semiconductor solutions for the Fiber to the home (FTTH) access market in a stock-for-stock transaction valued at approximately $300 million. Passave was headquartered in Boston, MA and had a development center in Tel Aviv, Israel.
On October 22, 2010 PMC-Sierra acquired Wintegra Inc. for $240m. Wintegra had 165 employees with the majority of its R&D development team located in Raanana, Israel, and Austin, Texas.
Read more about this topic: PMC-Sierra
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