Zoran Corporation (Nasdaq: ZRAN) today announced the completion of its acquisition of Let It Wave SA, a fabless semiconductor company based in Paris, France.

Let It Wave delivers award winning and patent-pending technology for video Frame Rate Conversion and image enhancement capabilities for flat panel televisions and other consumer electronics products.

Let It Wave was founded in 2001 by Professor Stephane Mallat, Dr. Christophe Bernard, Dr. Jérôme Kalifa, and Professor Erwan Le Pennec to develop improved image-processing capabilities for video products based on Bandlet technology at Ecole Polytechnique in Paris. In 2002, the company won the first national prize for innovation awarded by the French ministry of Research and Technology and also won the prestigious 2005 European Information Science Technology Grand Prize, a competition involving entrants from 29 European countries. Let It Wave was financed primarily by Iris Capital, a pan-European fund, and I-Source, France.