A planned acquisition by Hauppauge-based Standard Microsystems Inc. is on hold.
SMSC said last month that it planned to buy a rival California company for $284 million. Conexant Systems Inc., of Newport Beach, is a maker of products for imaging, audio and embedded modem and video.
But now another suitor has one-upped SMSC, offering $311 million for Conexant. The new offer comes from Golden Gate Private Equity Inc., of San Francisco.
In a separate statement issued Monday, SMSC said it has been given the opportunity to increase or restructure its bid.
He has a "hold" rating on Conexant shares and does not own any.
SMSC in November bought another California company, Symwave Inc., a maker of USB 3.0 products capable of transferring data 10 times faster than the current USB 2.0 computer port technology.
And in June, SMSC purchased a Dutch wireless product design company, Wireless Audio IP B.V., which makes plug-and-play wireless products for home theater, headphones, LED TVs, PCs, gaming and automotive entertainment.