Intel Corp. today revealed that it has acquired NetSpeed Systems Inc., a venture-backed startup founded in 2011 with the goal of speeding up semiconductor design.

NetSpeed’s focus area is system-on-chip development. An SoC is an integrated circuit that combines a processor with essential peripheral components such as memory in a single, compact unit. Such chips are considerably smaller than a traditional motherboard and use less power as well.

SoCs can be found in practically every modern smartphone, as well as a wide variety of other devices ranging from blood pressure monitors to autonomous vehicles. The intellectual property that Intel is gaining through the NetSpeed deal could potentially put it a better position to tap this increasingly important market.

The startup has developed a set of products for creating interconnect technology, which is what links the individual components on an SoC. NetSpeed’s product portfolio is headlined by a design tool called NocSudio that uses artificial intelligence algorithms to speed up chip development. According to the startup’s website, the software can automatically find the best way to implement SoC specifications.

NetSpeed has been offering NocStudio alongside a collection of interconnect architectures that can be customized for different SoCs. Among them is an offering called Orion AI geared toward chips optimized for machine learning workloads. On its website, the startup claims that its technology can provide a 20 percent improvement in performance, density and power efficiency.

Intel said the acquisition will help speed up internal SoC development initiatives while reducing costs. NetSpeed is being folded into the chipmaker’s Silicon Engineering Group as part of the deal. Sundari Mitra, the startup’s co-founder and chief executive officer, will continue to lead her team in the role of vice president.

“Intel is designing more products with more specialized features than ever before, which is incredibly exciting for Intel architects and for our customers. The challenge is synthesizing a broader set of IP blocks for optimal performance while reining in design time and cost,” Jim Keller, head of Intel’s Silicon Engineering Group, said in a prepared statement. “NetSpeed’s proven network-on-chip technology addresses this challenge.”

Intel didn’t share the deal’s financial terms. NetSpeed raised $13.2 million from investors prior to the acquisition at a $60 million valuation, according to market intelligence service PitchBook.

Photo: Intel