Bittware has been acquired by Molex

Bittware has been acquired by Molex 2018-05-16T13:39:57+00:00

Project Description

Bittware, Inc., a global leading provider of computing systems featuring field-programmable gate arrays (“FPGAs”) deployed in data center compute and network packet processing applications, has been acquired by Molex, LLC, a subsidiary company of Koch Industries.

Headquartered in Concord, New Hampshire, BittWare provides solutions based on FPGA technology from Intel and Xilinx.  Many of the world’s leading companies use BittWare FPGA solutions to provide the processing power for demanding applications in data center, military, aerospace, government, instrumentation, test, financial services, broadcast and video.  BittWare commercial products turn the latest FPGA device features into reliable board-level solutions, suitable for both development and deployment in integrated servers.  The company serves Original Equipment Manufacturer (“OEM”) customers who value the decades of engineering experience BittWare brings to designing custom solutions and manufacturing them at scale with partners such as Benchmark Electronics.  BittWare products are supported with extensive tools, FPGA IP, and in-house technical support staff.

Molex is a designer and manufacturer of electronic solutions to customers in more than 40 countries.  Molex offers a full suite of solutions and services for many markets, including data communications, consumer electronics, medical, industrial, automotive, and commercial vehicle.  The acquisition expands on the capabilities of Molex and its subsidiary Nallatech to address the rising demand for FPGA-based high-performance compute and network processing solutions.

Jeff Milrod, President and CEO of BittWare, commented “FPGA-based platforms have become a strategically important driver of machine learning, artificial intelligence, cybersecurity, network acceleration, IoT, and other megatrends.  As a Molex subsidiary, now working with Nallatech, I believe we will have the critical mass to bring new resources, better processes, and economies of scale to our valued customers and this rapidly growing industry as a whole.”

“Among the foremost FPGA computing platform developers, BittWare brings an impressive breadth of board-level computing technologies, integrated systems and software expertise,” said Tim Ruff, senior vice president of Molex.

Philpott Ball & Werner, LLC served as investment banker to Bittware.  Terms of the transaction were not disclosed.  For more information about this transaction, please contact PB&W Managing Director Ted Werner at twerner@pbandw.com or Director Erik Appareti at eappareti@pbandw.com.