SAN FRANCISCO — Microcontroller and analog semiconductor company Microchip Technology Incorporated (Chandler, Ariz) announced Thursday (May 7) that it has signed a definitive agreement to acquire the analog semiconductor company Micrel (San Jose, Calif.) for $14.00 per share, equaling an acquisition price of $839 million.
“Micrel's portfolio of linear and power management products, LAN solutions and timing and communications products, as well as their strong position in the industrial, automotive and communications markets, complement many of Microchip's initiatives in these areas,” said Steve Sanghi, president and CEO of Microchip Technology, in a statement.
“We are pleased to have Micrel become part of the Microchip team,” said Micrel’s cofounder and CEO Raymond Zinn. Zinn has run the company since its founding in 1978.
Micrel has had its own share of acquisitions, including PhaseLink (crystal oscillator chips) in 2012 and Discera, for silicon timing solutions, in 2013. Micrel has 678 employees and ranks 30th in semiconductor sales, according to San Jose Mercury News. The company was reportedly under pressure from shareholder hedge fund Starboard Value LP, which owns a 12% interest in Micrel.
To read the rest of this article, visit EBN sister site EE Times.