Microchip adds timing savvy with Tektron acquisition
Microchip Technology has acquired New Zealand-based Tekron International, a provider of high-precision GPS and atomic clock time-keeping technologies
The terms of the deal are confidential.
“This acquisition brings Tekron’s knowledgeable team and widely adopted products to our synchronisation and timing offering that has become indispensable in today’s increasingly digital, networked world,” said Randy Brudzinski, vice president of Microchip’s Frequency and Timing Systems business unit. “Precise, accurate time is an enabling ingredient for virtually all infrastructures, from data centres, communications and industrial networks to financial exchanges. Acquiring Tekron enables us to expand our offering across a broad customer base in the rapidly expanding smart energy and industrial markets.”
Microchip has established a strong position in the synchronisation and timing market for communications, enterprise, government, and military and aerospace applications.
Tekron extends this focus to encompass the specific industry requirements for the power utilities and industrial markets.
Founded in 2002 in Wellington, New Zealand, Tekron has solved key challenges including providing precision time stamping for advanced substation automation applications; ensuring Network Time Protocol (NTP) reliability and security over computer networks; maintaining continuous time sync operation for transmission and distribution system operators; and implementing IEEE 1888V2 Precision Time Protocol (PTP) standards to modernise the traditional power grid.
“We are excited to have our employee family join Microchip to help expand its reach and coverage in the smart energy and industrial segments,” said Ian Mills (pictured), the outgoing Chairman of the Board with Tekron. “The transaction brings together two organisations with a shared commitment to innovation and flawless execution that is so critical in the timing and synchronisation industry. We have strong mutual and complementary track records for successfully deploying this highly specialised technology in demanding applications. We look forward to expanding on this further with the joining of the New Zealand team into the Microchip family.”