GEO Semiconductor Inc. will buy the digital video-processing business of Maxim Integrated Products Inc. (Nasdaq: MXIM) for an undisclosed amount.
Maxim Integrated, headquartered in San Jose, Calif., makes technology products including sensors, clocks and embedded security.
Santa Clara, Calif.-based GEO hopes to expand its intellectual property portfolio to about 100 patents through the deal. The company makes programmable technology for the surveillance and video communication markets.
The deal is expected to close by Dec. 31.