Camarillo semiconductor maker Semtech Corp. has acquired EnVerv Inc., a Bay Area supplier of components used in smart electrical grids.
EnVerv, in Milpitas, supplies components used in power line communications, or the sending of data over the same lines distributing or transmitting electric power. The components are used in lighting networks, traffic light networks, runway lights, and solar-power plant-control and monitoring.
Semtech Chief Executive Mohan Maheswaran said the acquisition fits with the strategy of buying products that position the company for growth in targeted markets, such as industrial power-line communications and residential smart metering.
“We believe that the smart home and the smart grid are still in their early stages of global development, and having both (power line communications) and wireless technologies positions us well to take advantage of both segments,” he said in a prepared statement.
Terms of the deal announced Wednesday were not announced.
Shares closed down 75 cents, or nearly 3 percent, to $2.83 on the Nasdaq.