Exar Corp. (NYSE: EXAR) has acquired processor supplier Stretch Inc.
Sunnyvale, Calif.-based Stretch provides software-configurable processors for the video surveillance market. The company had received $53 million in venture capital funding since 2006 from Worldview Technology Partners, Oak Investment Partners and Menlo Ventures. Terms of the deal were not disclosed.
The Fremont, Calif.-based buyer designs, develops and market analog mixed-signal circuits and other services for the networking, storage, industrial, embedded systems and communications infrastructure markets. Exar expects the deal to allow it to transmit data from the camera to the DVR for surveillance activities. The deal closed on Jan. 14.
O’Melveny & Myers LLP provided legal advice to Exar.