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In a bid to boost its smart energy portfolio Atmel Corporation (ATML - Analyst Report) recently completed the acquisition of Integrated Device Technology’s, Inc ((IDTI - Snapshot Report) smart metering IC product lines and technologies for an undisclosed amount. This acquisition includes IDTI's Metrology Analog Front End (AFE) and System-On-Chip (SoC) devices for single- and poly-phase energy meters.

Targeting the rapidly growing PRIME smart metering market, Atmel's smart metering portfolio includes the world's first single-chip power line communications (PLC). The smart metering IC (integrated circuit) product line features excellent measurement accuracy in both single as well as poly-phase. The recently acquired metering solution allows manufacturers to merge the various types of meters into one standard model, thereby simplifying the manufacturing process and reducing the overall bill of materials.

Through a continuous pipeline of innovative products, Atmel and IDTI customers now have access to a more complete suite of smart energy solutions for a wider range of applications. With this acquisition, Atmel has also expanded its smart energy solutions portfolio to augment its revenues. According to a market research firm, annual smart grid revenue is expected to grow to $73 billion by 2020.

Based in San Jose, Calif, Atmel designs, develops, manufactures and sells IC products. These products include microcontrollers, advanced logic, mixed-signal, non-volatile memory and radio frequency (RF) components. The company has introduced a substantial number of new products in the past few quarters, which is likely to benefit the business during industrial recovery.

The company operates in an intensely competitive landscape that includes big players such as PLX Technology Inc . Given the competition, constant technological upgrades are the most befitting survival strategies of Atmel.

Atmel currently has a Zacks Rank #3 (Hold). One of its competitors, Semiconductor Manufacturing International Corp (SMI - Snapshot Report) carries a Zacks Rank #1 (Strong Buy).

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