Leadis Technology, a publicly traded developer of display driver ICs for small panel color displays, said it has acquired Mondowave, a private company specializing in low-power consumer audio applications.

Mondowave, of Mountain View, Calif., has tested a low-power CODEC and an FM transmitter, targeting portable music players, and expects to start mass production in the second half of 2007, the companies said in a statement. Leadis is based in Sunnyvale, Calif.

Here’s the statement.