SEOUL, South Korea and CUPERTINO, Calif., June 16, 2014 /PRNewswire/ -- MagnaChip Semiconductor Corporation ("MagnaChip") (NYSE: MX), a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products, announced that it has signed a patent license agreement with SENIS AG, a manufacturer of magnetic field and current measurement instruments based in Zug, Switzerland.
With the agreement, MagnaChip acquires the right to use a portfolio of SENIS' patents covering magnetic field and current measurement technologies in its sensor products. MagnaChip expects the agreement to significantly strengthen the company's existing initiatives in sensors and allow development of sensor solutions for new industrial and consumer applications. MagnaChip's existing portfolio of sensors includes the e-Compass and MXM11XX Digital Hall sensor family. According to Gartner, non-optical semiconductor sensor revenue grew 5.9% in 2013 to $6.1 billion, and is expected to grow to $10.2 billion in 2018.
"We are pleased to reach a strategic alliance agreement with SENIS AG, a company that we have previously collaborated with in a close partnership," said YJ Kim, interim CEO of MagnaChip and General Manager of MagnaChip's Display Solutions Division. "With access to SENIS' high performance magnetic field and current measurement technology, we expect to accelerate development of differentiated sensor solutions for our customers, particularly in industrial applications."
About MagnaChip Semiconductor
Headquartered in South Korea, MagnaChip Semiconductor is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products for high volume consumer applications. MagnaChip Semiconductor believes it has one of the broadest and deepest range of analog and mixed-signal semiconductor platforms in the industry, supported by its 30-year operating history, a large portfolio of registered and pending patents and extensive engineering and manufacturing process expertise. For more information, please visit www.magnachip.com.
About SENIS AG
SENIS AG was founded by Dr. R. Popovic, a professor at EPFL, Switzerland in 2004 as a spin-off of SENTRON AG. SENIS develops and manufactures advanced instruments for magnetic field and current measurement and provides the corresponding development and engineering services.
SOURCE MagnaChip Semiconductor Corporation