From Nasdaq.: 2024-04-12 12:34:00

Microchip Technology (MCHP) acquires VSI Co. Ltd, strengthening its position in automotive technology. Market for radar cameras and LiDAR modules expected to double by 2028. Growth driven by demand for ADAS, safety features, and software-defined vehicles. Microchip’s acquisition aligns with industry standards for advanced in-vehicle networking (IVN).

Microchip expands its automotive networking solutions with the acquisition, aligning with industry trends. Launches Detroit Automotive Technology Center and Trust Portfolio platform to enhance IoT security. Despite macro challenges, MCHP forecasts $1.225-$1.425 billion net sales for Q4 2024. Stock down 1% YTD, faces headwinds from inflation and high-interest rates.

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Read more at Nasdaq.: Microchip (MCHP) Boosts Auto Connectivity With VSI Acquisition