Triune Systems Acquired By Semtech For $45M

Plano-based Triune Systems, a developer of wireless charging and power management products, has been acquired by semiconductor maker Semtech. California-based Semtech said it paid approximately $45M for Triune, split between $35M in cash upfront plus $10M in six months, in addition to additional contingent consideration. Semtech said it will hire 35 employees from Triune, with the majority at its Plano site. Ross Teggatz, Founder and Chief Executive Officer of Triune Systems, becomes Senior Vice President and General Manager of Semtech's Power Management and High-Reliability Product Group.