Morse Micro and MegaChips Form Strategic Capital and Business Alliance

MegaChips Corporation (“Company’’) announced today its investment in Morse Micro PTY. LTD (“Morse Micro’’) to form a strategic alliance for the supply and sales activities of semiconductor and module products.

Purpose of capital alliance and strategic partnership

MegaChips Group pursues a strategic partnership and business investment with startups that have cutting- edge technology and innovative ideas and are actively working to launch new businesses in the growing areas including industrial equipment, telecommunication, AI, energy control, and robotics for the Company’s mid- to-long term sustainable growth.

 

Morse Micro (https://www.morsemicro.com) is a rapidly growing fabless semiconductor company developing Wi-Fi HaLow; the low-power, long-range wireless communication standard designed for IoT environments. Headquartered in Australia, with offices in China, India, and the U.S., Morse Micro has a robust and diverse team, a portfolio of IP and patents, and a wide set of use-cases. From surveillance systems and access control to industrial automation and mobile devices, allowing connected devices to reach farther.

 

The Company has taken a stake in Morse Micro and has developed a business partnership to drive market growth, create new solutions, and accelerate the go-to-market strategy of the fastest, smallest, lowest power, and longest range Wi-Fi HaLow solutions available today.

 

Through this strategic partnership, the Company will take on the manufacturing of Morse Micro’s semiconductor and module products, and pursue joint sales and promotion activities with Morse Micro in order to enhance the reach of Wi-Fi HaLow across the globe.

 

“MegaChips has agreed to enter into a strategic partnership with Morse Micro who is a world’s leading company its Wi-Fi HaLow technology. We have a great opportunity to launch a business that will drive our new future growth. We aim for prosperity of both companies by collaborating with Morse Micro and work on the commercialization of Wi-Fi HaLow.” said Tetsuo Hikawa, President and CEO of MegaChips

 

“With MegaChips’ financial backing and a strategic business partnership, Morse Micro will be poised to achieve our goal of revolutionizing IoT connectivity with our growing portfolio of Wi-Fi HaLow SoCs, modules, software and development tools,” said Michael De Nil, co-founder and chief executive officer at Morse Micro.

“MegaChips shares our vision to revolutionize connectivity and build enduring Wi-Fi HaLow solutions for the future. We are delighted to partner with them, as we take the next step forward in our company’s journey toward market scale and leadership.”

 

Overview of investment

Total Investment Amount: AUD 100 million (approx. ¥9,698 million)

 

Overview of Morse Micro

(1) Name

Morse Micro PTY. LTD.

(2) Location

Level 8, 10-14 Waterloo Street, Surry Hills, NSW 2010, Australia

(3) Representative

CEO Michael De Nil

(4) Line of business

Fabless semiconductor, develops and provides Wi-Fi HaLow mainly in IoT market

(5) Total equity

(as of March 31, 2022)

AUD 25,748 thousand (approx. ¥2,446 million)

(6) Founded

August 2016

 

 

(7) Relationships

Capital

No applicable items

Personnel

No applicable items

Business

No applicable items

Applicable Relationships with Related Parties

No applicable items

(Note 1) The “total equity” in Japanese Yen is converted at an exchange rate of AUD1=¥95.

(Note 2) The information on “Major shareholders and interests’’ and “Performance results and financial status for recent 3 years” are not disclosed as Morse Micro is a privately-held company.

 

Schedule

・Date of initial investment              July 21, 2022

・Date of agreement for strategic alliance              September 7, 2022

 

Future outlook

The impact of the business tie-up on the Company’s consolidated business performance for FY2022 ending March 2023 will be negligible. Any matters that need to be announced will be immediately announced according to the progress of the business tie-up.

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