Cypress Semiconductor Corp. announced that it has completed its acquisition of Cirrent, further expanding the company's IoT portfolio. Cirrent is a leading provider of software and cloud services in consumer Wi-Fi products. With Cirrent's software and cloud services, IoT companies' products are easier to use, more reliable and safer.
With the popularity of smart homes and the increase in home Wi-Fi access devices, users need a more intuitive and seamless experience. Cirrent's software enables IoT products to easily connect to the home network and stay online, providing users with a superior user experience while reducing service support and product return expenses, helping IoT product vendors improve their input and output ratio. In addition, with Cirrent's software, users can set up the product without having to enter a password and stay connected to the network, even when the network name and password change. Nowadays, more and more companies are immersed in the business model and business development related to the Internet of Everything. With Cirrent's software to improve the connection rate of products, they can directly create business value for customers.
Cypress Semiconductor President and CEO Hassane El-Khoury said: "Cirrent can help users realize the rapid networking and stay connected of IoT products, thus overcoming the two obstacles that hinder the large-scale development of IoT products. Value-differentiated software is one of the core of Cypress's product strategy, and Cirrent has a top-notch team of engineers, a scalable cloud platform, and a good relationship with large Internet service providers and leading IoT products companies. Their participation will help Cypress increase revenue from software services and further consolidate Cypress's market leading position."