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August 1, 2012
Vectron International &Knowles Electronics partners with SiTime Corporation
Solidifying leadership position in MEMS Timing devices
– Vectron International and Knowles Electronics today issues a joint announcement that they have entered into a strategic partnership with SiTime Corporation. The partnership, which includes a cash investment by Vectron and Knowles, brings together three world class companies with the goal of driving unprecedented growth in MEMS Timing into the $4B Frequency Control Products (FCP) market.
Speaking from Knowles's headquarters in Itasca IL, Knowles CEO Jeff Niew said: "I am delighted to announce this strategic partnership. Knowles Electronics has long been known as an innovator and a leader in MEMS microphones and we look forward to bring the same level of success to the SiTime family of MEMS timing products."
Rick Hajec, President of Vectron International, added: "Vectron has been committed to bringing innovative timing devices to the Communications, Industrial and Military/Space markets for over 50 years. We have closely followed advancements in MEMS Timing technology over the last decade and believe that SiTime's product performance is poised to disrupt the timing industry and enable new market growth. We are excited by the prospect of bringing this compelling technology to all of our customers around the world."
In response to the announcement, Rajesh Vashist, CEO of SiTime, said: "SiTime is revolutionizing the timing market with our innovative silicon MEMS and analog technology. Our leadership products have been adopted by major OEMs and ODMs worldwide, resulting in shipments of 120 Million units. Today, SiTime's products are used in a broad range of applications that span cameras to wireless base stations. We are extremely excited about this partnership as it enables Knowles' and Vectron's customers to use SiTime's Silicon MEMS timing products. Along with SiTime, Knowles–Vectron's leadership position in consumer and precision timing markets is a potent combination that will accelerate the transformation of the timing industry."
As part of the agreement, both Vectron International and Knowles Electronics will sell MEMS timing products through their own direct sales channels, as well as support SiTime with future product developments. Other terms of the agreement were not disclosed.
About Vectron International
Vectron International is a world leader in the design, manufacture and marketing of frequency control, sensor, and hybrid product solutions. Vectron solves complex timing, filtering and sensor challenges by delivering customized solutions that speed time to market and offer low total cost of ownership. Committed to the industry's highest quality service standard and complete satisfaction, Vectron International leverages its global footprint and 50 years of experience to help customers achieve competitive differentiation and improve their bottom line. Vectron International is headquartered in Hudson, NH and has operating facilities and sales offices in North America, Europe and Asia. For more information, please visit www.vectron.com
About Knowles Electronics
Founded in 1946, Knowles Electronics is the leading global supplier of advanced micro-acoustic and human interface solutions, including hearing aid components, MEMS microphones as well as dynamic speakers and receivers. Providing unique technology expertise and a broad product portfolio Knowles serves the markets for hearing health, mobile communications, consumer electronics, and professional audio. Headquartered in Itasca, USA, Knowles has more than 6,000 employees in 17 locations worldwide. For more information visit the Knowles website at www.knowles.com
SiTime Corporation, an analog semiconductor company, offers MEMS-based silicon timing solutions that replace legacy quartz products. With 80% market share and over 120 million devices shipped, SiTime is driving the $4 Billion timing market's transition to 100% silicon-based timing.
SiTime's configurable solutions enable customers to differentiate their products with higher performance, reduced size and better reliability. The rich feature set and flexibility of our solutions allows customers to consolidate their supply-chain, reducing cost of ownership and time to market. By using standard semiconductor processes and high volume plastic packaging, SiTime offers the best availability and shortest lead times in the industry. www.sitime.com