University of Kent's UltraSoc Technologies, which provides integrated circuit safety technologies, has agreed to an acquisition by Siemens.
UltraSoc Technologies, a UK-based semiconductor safeguarding technology spinout of University of Kent, is set to be acquired by industrial product and appliance producer Siemens.
The deal is due to close during the fourth quarter of 2020. Financial terms of the transaction were not disclosed.
Founded in 2006, UltraSoc provides semiconductor designs to be integrated within silicon chips for data analytics and monitoring functionality, protecting the hardware against production faults and cybersecurity attacks.
The company targets complex systems with components fabricated onto a single integrated circuit, known as systems-on-a-chip (SOCs), used generally for intensive applications such as high-performance computing, autonomous vehicles and data storage.
UltraSoc’s products will complement Siemens’s existing silicon chip debugging product Tessent, acquired with the 2016 purchase of electronic design automation business Mentor Graphics.
Siemens also expects to provide UltraSoc’s on-board chip safety monitoring in parallel with its digital twin product, which creates a virtual replica during the design process.
UltraSoc had raised a total of $18.9m in funding ahead of the acquisition. Details of its series C round were unavailable, although Octopus Investments provided the spinout with $2.3m in series B funding in 2013, according to Unquote.
Atlante Tech led a $6.4m series D round for UltraSoc in 2017, investing alongside regional spinout-focused vehicle South East Seed Fund and angel investor Guillaume d’Eyssautier as well as Enso Ventures, Oxford Capital and Octopus Ventures.
UltraSoc then closed another $6.4m round in June 2019 with commitments from eCapital, Seraphim Capital, Indaco Venture Partners, Octopus Ventures, Oxford Capital, Techgate and d’Eyssautier.