Foxconn plans to acquire IC Design House Socle

Manufacturer of computer components and systems, Foxconn has announced its plans to takeover Socle Technology, an Integrated circuit design house. Foxconn will take up 100% share of the IC design service company.

Socle Technology will continue to operate independently after being acquired by Foxconn, which will appoint Young Liu, currently GM of its Innovation Digital System Business Group to head the new Socle. The Foxconn-Socle merger deal is scheduled for completion in mid-May 2014 or earlier.

Socle has completed development of IP for 28nm processes, but it has been restricted from using other foundry houses to enable production of 28nm chips using its IP, affecting its business development.

Foxconn is looking forward to build up its own design and technology capability for the production of application processors used in mobile devices.