Irvine-based TransDimension Inc.,a well-funded maker of chips and software that link electronic devices,has been sold to Oxford Semiconductor Inc., the company said Wednesday.
The price wasn’t disclosed by Oxford, which also makes products that connect devices. There was no cash involved in the deal, according to Oxford.
Oxford, formerly based in Britain, said it plans to create a new parent company with headquarters in Milpitas as part of the deal. TransDimension shareholders are set to receive shares in the new company.
TransDimension’s Irvine facility is set to remain as a subsidiary and change its name to Oxford Semiconductor.
Chief Executive Rick Goerner is set to become senior vice president of sales and marketing of the new company.
TransDimension is one of Orange County’s better funded technology companies. In 2004, the company said it raised $18 million in a round of venture funding, bringing its total to about $43 million.
The company specializes in universal serial bus chips and software that easily connect devices such as digital cameras and music players to computers.
TransDimension got its start in 1997 when Ping Liang, then a professor at the University of California, Riverside, started the company. He launched it as a one-man operation in Riverside, living off his savings.
Liang moved the company to Irvine in 2000. A friend and colleague introduced him to Steve Kim of Alcatel Ventures, the investment arm of French networking gear maker Alcatel, which became one of TransDimension’s first investors.
Liang brought on Texas Instruments Inc. veteran Goerner in 2002 to run things and stepped back as chairman.
