It offered NOR flash memories,[2] F-RAM and SRAM Traveo microcontrollers,[3] PSoCs,[4] PMICs,[5] capacitive touch-sensing controllers,[6] Wireless BLE Bluetooth Low-Energy[7] and USB connectivity solutions.

It was founded by T. J. Rodgers and others (Fritz Beyerlein, Fred Jenne, Steven H. Kaplan, R. Michael Starnes and Lowell Turriff) [14] from Advanced Micro Devices.

[21] Cypress attempted to acquire Integrated Silicon Solution Inc. in 2015 but was thwarted by a competing bid by Chinese buyer consortium Uphill Investment Co., which included GigaDevice, a major competitor in the NOR flash market.

[23] In April 2016, Cypress announced the acquisition of Broadcom’s Wireless Internet of Things (IoT) business and related assets in an all-cash transaction valued at $550 million.

Under the terms of the deal, Cypress will acquire Broadcom's Wi-Fi, Bluetooth and Zigbee IoT product lines and intellectual property, along with its WICED brand and developer ecosystem.

As part of the agreement, ASE Group and Deca will jointly develop the M-Series fan-out manufacturing process and will expand production of chip-scale packages using this technology.

[25] Cypress named Hassane El-Khoury its president and chief executive officer, and announced he will join the board of directors on Aug. 11, 2016.

[31] In 2019, under CEO Hassane El-Khouri, the company agreed to the offer of Infineon Technologies valued about $9 billions (that represents the all-cash buyout price of $23.85 per share).