Knowles Electronics and Vectron International, both owned by Dover Corporation, announced this week that they have entered into a strategic partnership with SiTime Corporation. The partnership, which includes a cash investment by Knowles and Vectron, brings together three companies with the goal of driving "unprecedented growth" of MEMS timing components within the $4 billion frequency control products market.
Speaking from Knowles' headquarters in Itasca, Illinois, Knowles CEO Jeff Niew said: "I am delighted to announce this strategic partnership. Knowles Electronics has long been known an innovator and as a leader in MEMS microphones and we look forward to bringing the same level of success to the SiTime family of MEMS timing products."
Rick Hajec, President of Vectron International, added: "Vectron has been committed to bringing innovative timing devices to the communications, industrial and military/space markets for over 50 years. We have closely followed advancements in MEMS timing technology over the last decade and believe that SiTime's product performance is poised to disrupt the timing industry and enable new market growth. We are excited by the prospect of bringing this compelling technology to all of our customers around the world."
In response to the announcement, Rajesh Vashist, CEO of SiTime, said: "SiTime is revolutionizing the timing market with our innovative silicon MEMS and analog technology. Our leadership products have been adopted by major OEMs and ODMs worldwide, resulting in shipments of 120 million units. Today, SiTime's products are used in a broad range of applications that span cameras to wireless base stations. We are extremely excited about this partnership as it enables Knowles' and Vectron's customers to use SiTime's silicon MEMS timing products. Along with SiTime, Knowles' and Vectron's leadership position in consumer and precision timing markets is a potent combination that will accelerate the transformation of the timing industry."
As part of the agreement, both Knowles Electronics and Vectron International will sell MEMS timing products through their own direct sales channels as well as support SiTime with future product developments. Other terms of the agreement were not disclosed.
Founded in 1946, Knowles Electronics is the leading global supplier of advanced micro-acoustic and human interface solutions, including hearing aid components, MEMS microphones as well as dynamic speakers and receivers. Knowles serves the markets for hearing health, mobile communications, consumer electronics, and professional audio. Headquartered in Itasca, Illinois, Knowles has more than 6,000 employees in 17 locations worldwide.
Vectron International is a world leader in the design, manufacture and marketing of frequency control, sensor, and hybrid product solutions. Vectron is headquartered in Hudson, New Hampshire and has operating facilities and sales offices in North America, Europe and Asia.
SiTime Corporation, an analog semiconductor company, offers MEMS based silicon timing solutions that replace legacy quartz products. The company claims to have an 80% market share of the MEMS based osciallator market with over 120 million devices shipped. One of the key advanges for SiTime's products, and MEMS oscillators in general, has been the shorter lead times as compared to the tradional quartz based timing chips.