December 15th, 2014:
The Board of Directors of Eltek ASA announces an agreement with Deltronics (Netherlands) B.V., a wholly owned subsidiary of Delta Electronics, Inc., whereby Delta will offer to acquire all of the shares of Eltek through a voluntary cash offer of NOK 11.75 per share. The Board of Directors of Eltek recommended the shareholders of Eltek to accept the offer.December 5th, 2014:
ams AG has entered into an agreement to acquire 100% of the shares in acam-messelectronic GmbH in an all-cash transaction.
Established in 1996, acam-messelectronic designs and markets sensor interface solutions based on the company's time-to-digital converter (TDC) technology. acam-messelectronic's time-based converter technology with picosecond resolution creates significant advantages for demanding sensor applications. Shipping into industrial, infrastructure, medical, and automotive systems, the company's CMOS-based products measure timing, capacitance, resistance and rotational speed at very high accuracy and speed with very low power consumption. acam-messelectronic's technology offers superior performance in time-of-flight and ultrasound-based measurement applications.
The parties to the transaction, which is expected to close within the next week subject to certain approvals and conditions, have agreed to keep the consideration confidential. Following the closing, ams plans to integrate acam-messelectronic's activities in current and emerging markets into its existing business at the present location and to consolidate acam-messelectronic for accounting purposes from the first quarter 2015 onwards.December 1st, 2014:
Cypress Semiconductor Corp. and Spansion, Inc. today announced a definitive agreement to merge in an all-stock, tax-free transaction valued at approximately $4 billion. The post-merger company will generate more than $2 billion in revenue annually and create a leading global provider of microcontrollers and specialized memories needed in today's embedded systems.October 28th, 2014:
SiTime Corporation, a MEMS and analog semiconductor company, today announced that it has signed a definitive agreement under which MegaChips Corporation, a top 25 fabless semiconductor company based in Japan, will acquire SiTime for $200 million in cash.October 15th, 2014:
Qualcomm Incorporated announced that it has reached agreement with CSR plc (Cambridge Silicon Radio) regarding the terms of a recommended cash acquisition through which the entire issued and to be issued ordinary share capital of CSR will be acquired by Qualcomm Global Trading Pte. Ltd, an indirect wholly owned subsidiary of Qualcomm Incorporated.
At £9.00 per share, the acquisition of the entire issued and to be issued ordinary share capital of CSR is valued at approximately £1.6 billion ($2.5 billion based upon an exchange rate of USD:GBP 1.6057). This cash offer has been unanimously recommended by the CSR board of directors.
The acquisition is subject to a number of conditions as set forth in the announcement released in accordance with Rule 2.7 of the UK Takeover Code, including the receipt of U.S. and other regulatory approvals and the approval of CSR's shareholders. Subject to the satisfaction of the conditions, the transaction is expected to close by the end of the summer of 2015. Qualcomm expects the acquisition to be accretive to Non-GAAP earnings per share in fiscal 2016, the first full year of combined operations.
October 6th, 2014:
MaxLinear Inc. a provider of integrated radio frequency (RF) and mixed-signal integrated circuits for broadband communications applications, today announced that it has signed a definitive agreement to acquire Physpeed Co., Ltd., a privately held developer of high-speed physical layer interconnect products addressing enterprise and telecommunications infrastructure market applications.
Headquartered in Camarillo, Calif., Physpeed develops a range of advanced technology solutions including optical physical medium devices (PMDs) and clock data recovery (CDR) devices at line-rate speeds ranging from 10Gbps to 100Gbps today, and 400Gbps in the future.
At closing of the acquisition, MaxLinear expects to pay approximately $11.0 million in cash in exchange for all outstanding shares of capital stock and equity of Physpeed. A portion of the consideration payable to the shareholders will be placed into escrow pursuant to the terms of the definitive merger agreement. In addition, the definitive merger agreement provides for potential earnout consideration of up to $750'000 for the achievement of certain 2015 and 2016 revenue milestones.August 22nd, 2014:
Murata Electronics North America, Inc., a wholly owned subsidiary of Murata Manufacturing Co., Ltd., and Peregrine Semiconductor Corporation announced that they have entered into a definitive agreement under which Murata will acquire all outstanding shares of Peregrine not owned by Murata, for $12.50 per share in cash, or a total transaction value of$471 million ($465 million excluding Murata's existing holding).
Peregrine is the founder of RF SOI (silicon on insulator) and pioneer of advanced Radio Frequency (RF) solutions and is a leading provider of RF front-end (RFFE) solutions for mobile and analog applications. Upon closing of the transaction, Peregrine will become part of Murata's strategy to expand its core business. Peregrine will become a wholly owned subsidiary of Murata and continue with its current business model of solving the world's toughest RF challenges.August 20th, 2014:
Infineon Technologies AG and International Rectifier Corporation announced that they have signed a definitive agreement under which Infineon will acquire International Rectifier for US-Dollar 40 per share in an all-cash transaction valued at approximately US-Dollar 3 billion.
Under the terms and conditions of the agreement, Infineon will pay US-Dollar 40 per share in cash for all of International Rectifier's outstanding shares, representing a fully diluted enterprise value of approximately US-Dollar 2.4 billion. The transaction price represents a premium of approximately 47,7 percent over the average share price of International Rectifier during the last three months and a premium of approximately 50,6 percent over the closing share price of International Rectifier on August 19, 2014.
Infineon will fund the transaction using cash-on-hand and fully underwritten credit facilities of Euro 1.5 billion in total. Upon closing of the transaction, Infineon's capital structure should stay well within the previously communicated targets of 30 to 40 percent gross cash-to-revenue, no more than 2x gross debt-to-EBITDA and a positive net cash position.August 18th, 2014:
On July 28th, 2014, Stadium Group Plc announced the acquisition of United Wireless Ltd., a specialist in the design and manufacture of electronics for the machine-to-machine (M2M) wireless sector, for a maximum total consideration of £8m in cash and shares.
Stadium will pay an initial consideration of £6.0m to acquire United, to be satisfied by £5.0m in cash and the balance of £1.0m by the issue of 1,515,152 Stadium shares (the Initial Consideration Shares) on completion. The cash consideration will be paid using a new five year revolving credit facility of up to £5m provided by Stadium's existing banking partner HSBC. Application has been made for admission of the Initial Consideration Shares to trading on AIM and dealings are expected to commence on 31 July 2014. United is being acquired on a cash and debt free basis.
The current owners and joint managing directors, each of whom will remain with United, have agreed to retain the Initial Consideration Shares for a minimum period of two years following Completion. The Company will make an additional earn-out payment of up to £1.33m in Stadium shares and £0.66m by way of loan notes if United exceeds certain defined earn-out targets.
United Wireless will trade under the new name of Stadium United Wireless Ltd.August 6th, 2014:
u-blox ag, a Swiss provider of wireless and positioning semiconductors and modules for the automotive, industrial and consumer markets, has acquired Antcor Advanced Network Technologies S.A., a developer of Wi-Fi baseband intellectual property (IP). The acquisition consists of the purchase of 100% of the shares of Antcor Advanced Network Technologies S.A. at a price of EUR 5.2 million, excluding an earn-out which offers the sellers the possibility to participate in certain future revenues of the company.
The transaction gives u-blox immediate ownership of advanced Wi-Fi core technology that will enable the company to develop ruggedized communication solutions tailored to demanding environments.August 6th, 2014:
KW-Software GmbH, a provider of automation software technology based in Lemgo, Germany, will change its name to Phoenix Contact Software on January 1, 2015. As of that date, it will become part of Phoenix Contact's Control Systems business unit.
Current KW-Software Managing Director Andreas Orzelski and Detleve Kuschgke, Director Research & Development in the Control Systems business unit at Phoenix Contact, will serve as the Executive Board at the new Phoenix Contact Software GmbH. Staff at the Lemgo site will join with the software developers from Phoenix Contact, who have been working at the Centrum Industrial IT (CIIT) in Lemgo for the past four years.August 5th, 2014:
e2v technologies, announced on August 4th, 2014, that it has agreed to acquire Seville-based Innovaciones Microelectronicas SL, trading as 'AnaFocus', a Spanish designer and developer of CMOS (Complementary Metal Oxide Semiconductor) imaging sensors for up to €34.2 million (£27.1 million). AnaFocus designs and develops high-performance, high-quality CMOS image-sensors and vision-systems for the industrial, professional, scientific, medical and high-end surveillance markets.
AnaFocus will become an integral part of the machine vision business within e2v's fast-growing High Performance Imaging division, which grew by 26% last year. It will fit well into the existing infrastructure of the division. It accelerates e2v's CMOS development road-map and deepens e2v's reach in the professional imaging markets.July 30th, 2014:
Molex Incorporated announced on July 23th, 2014, that the previously announced acquisition of Flamar Cavi Elettrici s.r.l. has closed. Italian-based cable manufacturer Flamar specializes in the design of custom cables for industrial connectivity applications. Flamar will now operate as a subsidiary of Molex Incorporated. Terms were not disclosed.July 29th, 2014:
Microsemi Corporated annouced that during this month it acquired Mingoa Ltd.
Terms of the deal were not disclosed.
Mingoa, now Microsemi, is a leading provider of semiconductor IP for hardware accelerated Ethernet OAM and embedded tests. It specializes in developing highly efficient and scalable embedded hardware/software for real time Ethernet operations, administration and monitoring (OAM) with IP level monitoring for SLA enforcement. Target applications for this technology include enterprise carrier Ethernet business services, mobile/small cell backhaul applications and datacenter interconnect.July 14th, 2014:
Vishay Intertechnology and its affiliated Vishay Taiwan has signed a merger agreement with Taiwan-based IC design house Capella Microsystems.
Vishay says it will acquire up to 100% of Capella's outstanding shares at a price of NT$139 (US$4.64) per share through a tender offer. The tender price represents a premium of 21.9% over Capella's closing price of NT$114 on the Taiwan Stock Exchange (TSE) on July 11, 2014. The acquisition deal will total approximately NT$6.05 billion.
The tender offer will begin immediately and end on September 1, 2014, but could be extended pursuant to regulatory requirements. Following the completion of the tender offer, Vishay and Capella will merge in January 2015. Vishay Taiwan will be the survivor company after the merger, while Capella will be delisted from the TSE.
July 11th, 2014:
Qualcomm Inc., the U.S. maker of semiconductors for mobile phones, is buying the Israeli operations of Cambridge Silicon Radio (CSR) for about $45 million.
Buying the local operations of CSR, gives Qualcomm imaging technology, which includes wireless photo transfer to geo-tagging. CSR's Israel's 15-person team will move to Qualcomm's Haifa offices.
CSR announced last week it had sold the unit but didn't disclose the buyer. On July 8th, a spokesman for Qualcomm confirmed it was the buyer.July 8th, 2014:
CEVA, Inc., a licensor of DSP-based IP platforms for vision, audio, communications and connectivity, today announced that it has acquired RivieraWaves, a privately held company and a provider of wireless connectivity IP for Wi-Fi® and Bluetooth® technologies. RivieraWaves expands CEVA's licensing and royalty revenue base in its existing markets: including smartphones, tablets and small cells, and extends the company's market reach to include emerging markets such as wearables, the smart home, connected cars and the Internet of Things (IoT). Collectively, CEVA's addressable market is expected to exceed 35 billion connected devices by 2020, according to ABI Research. The acquisition synergistically adds to CEVA's collective IP portfolio, establishing the company as a 'one-stop-shop' provider for a broad range of applications, including vision, audio, communications and now connectivity.
Under the terms of the agreement, CEVA has agreed to pay approximately $19 million to acquire RivieraWaves. CEVA will make an initial payment of approximately $12 million at closing with the rest payable upon satisfaction of certain performance and other milestones as well as a two year retention plan for the current RivieraWaves' employees.July 2nd, 2014:
Qualcomm Incorporated today announced that it has taken two major steps to enable the industry to deliver multi-gigabit wireless with 60 GHz technology for mobile, computing and networking devices. First, Qualcomm has completed its acquisition of Wilocity, a leader in development of 60 GHz wireless chipsets based on the IEEE 802.11ad standard, also known as WiGig® technology. Second, the company is delivering a family of tri-band platforms that combine Qualcomm Atheros, Inc.'s Wi-Fi® and WiGig solutions to significantly increase performance and enable cutting-edge wireless applications. The initial tri-band platform is a reference design based on the Qualcomm® Snapdragon™ 810, which is the world's first mobile platform designed to support WiGig to enable applications such as 4k video streaming, peer-to-peer content sharing, networking, wireless docking, and backing up entire media libraries in seconds. The Qualcomm® Snapdragon™ 810 processor is a product of Qualcomm Technologies, Inc.
Qualcomm Atheros has been an investor in Wilocity since 2008 and worked closely with Wilocity to develop and distribute tri-band solutions for the computing market since 2011.
Financial terms of the transaction are not being disclosed.July 1st, 2014:
EZchip Semiconductor Ltd. today announced that it has signed a definitive agreement to acquire Tilera Corporation. The acquisition is intended to provide significant new growth opportunities for EZchip by accelerating the Company's expansion into new markets, diversifying its customer base and product lines and doubling its target Total Available Market (TAM).
Under the terms of the agreement, EZchip will pay Tilera's stockholders up to $130 million in cash; of which $50 million is payable at closing and up to an additional $80 million is payable subject to the attainment of certain future performance milestones. The transaction has been approved by the EZchip and Tilera boards of directors and is subject to customary closing conditions. The transaction is expected to close in the third quarter of 2014.June 9th, 2014:
ON Semiconductor Corporation today signed a definitive agreement to acquire Aptina Imaging, a provider of high-performance CMOS image sensors for automotive and industrial markets, which are the key areas of strategic focus for ON Semiconductor. Other markets addressed by Aptina's products include cameras, mobile devices, and computing and gaming platforms.
Under the terms of the agreement, ON Semiconductor will pay approximately $400 million in cash to acquire Aptina Imaging, subject to customary adjustments at closing. The acquisition will be funded by available cash on ON Semiconductor's balance sheet and its existing revolver credit facility.June 9th, 2014:
Analog Devices, Inc., a vendor in high-performance semiconductors for signal processing applications, and Hittite Microwave Corporation, a designer and manufacturer of high performance integrated circuits, modules, subsystems and instrumentation for RF, microwave and millimeter wave applications, today announced that the two companies have entered into a definitive agreement whereby ADI will acquire Hittite for $78 per share in cash. The closing price of Hittite's common stock on June 6, 2014 was $60.56 per share.
This agreement reflects a total enterprise value for Hittite of approximately $2 billion. ADI expects to fund the acquisition through a combination of cash on hand and short-term debt financing. The Boards of Directors of each company have approved the transaction, which is expected to close near the end of ADI's third fiscal quarter of 2014, subject to regulatory approvals and other customary closing conditions.May 22nd, 2014:
Microchip Technology Incorporated, a provider of microcontroller, mixed-signal, analog and Flash-IP solutions, and ISSC Technologies Corporation announced that Microchip has signed
a definitive agreement to acquire ISSC, a provider of low power Bluetooth and advanced wireless
solutions for the Internet Of Things (IoT) market. ISSC is publicly traded on the GreTai Securities
Market and is headquartered in Hsinchu, Taiwan (Hsinchu Science Park) with customer service or
research activities in Shenzhen, China and Torrance, California. In calendar year 2013, ISSC had net
sales of US$69.2 million and an operating margin of 18.9% based on their reported results under
International Financial Reporting Standards.
Under the terms of the transaction, Microchip will commence a tender offer to acquire all of the
outstanding shares of ISSC for New Taiwan (NT)$143 per share (approximately US$4.74 per share,
based on an assumed exchange rate of NT$30.15 per US$) in cash, and acquire any remaining shares
pursuant to a follow-on merger at NT$143 per share minus any dividends paid by ISSC prior to the close
of the transaction. The transaction represents a total equity value of about NT$9.9 billion (approximately
US$328.5 million), and a total enterprise value of about NT$8.9 billion (approximately US$294.3
million), after excluding ISSC's cash and investments on its balance sheet of approximately NT$1 billion
(approximately US$34.2 million). The acquisition is expected to be accretive to Microchip's non-GAAP
earnings per share in the first full quarter after completion of the tender offer at which time Microchip
will own the majority of the outstanding shares of ISSC and consolidate its financial statements with
Microchip's.April 29th, 2014:
Cirrus Logic, Inc. and Wolfson Microelectronics plc announced the terms of a recommended transaction under which Cirrus Logic would acquire Wolfson at a price of £2.35 per share in cash, implying an enterprise value of £278 million, or approximately $467 million. The transaction, if approved, is expected to strengthen Cirrus Logic's ability to expand its customer base with highly differentiated, end-to-end audio solutions for portable audio applications. The transaction will be financed by a combination of existing cash on Cirrus Logic's balance sheet and $225 million in debt funding.April 28th, 2014:
Exar Corporation announced that it is acquiring Integrated Memory Logic Ltd. (iML), a fabless semiconductor company that provides power-management chips aimed at the flat-panel display market.
iML's Board approved and executed a Merger Agreement to merge with Image Sub Limited (the I-Sub), a wholly owned subsidiary of Exar Corporation (Exar) in USA. Within five business days, the I-Sub will be launching a tender offer to purchase the outstanding shares of iML on the Taiwan open market for NTD$91 per share. Upon the completion of the tender offer, the I-Sub will start the merger process to integrate iML with Exar. The actual merger process and the final per share price may be subject to adjustment according to the terms and conditions specified in the Merger Agreement.April 7th, 2014:
Freescale Semiconductor has entered into a definitive agreement to purchase the Comcerto® CPE communications processor business of Mindspeed Technologies, Inc. This business includes a series of multicore, ARM®-based embedded processors and associated software, a talented team, and Tier One customers spanning the globe.April 2nd, 2014:
ON Semiconductor Corporation signed a definitive agreement to acquire Truesense Imaging, Inc., a provider of high-performance image sensor devices addressing a wide range of industrial end-markets including machine vision, surveillance, traffic monitoring, medical and scientific imaging, and photography. Under the terms of the agreement, ON Semiconductor will pay approximately $92 million in cash to acquire Truesense Imaging, subject to customary adjustments at closing. The acquisition will be funded by available cash on ON Semiconductor's balance sheet.
Truesense Imaging, Inc. had its roots in Eastman Kodak's imaging division.March 27th, 2014:
Hittite Microwave Corporation announced that it has entered into a definitive agreement to buy substantially all the assets of Keragis Corporation, a provider of extremely high power, wideband amplifier modules, located in San Diego, CA. The purchase price was not disclosed.March 7th, 2014:
Fairchild Semiconductor International Inc. has acquired Xsens Technologies BV, a private company that has specialized in 3D motion tracking products based on MEMS inertial sensors. No details have been provided of the purchase price for Xsens.March 4th, 2014:
Silicon Laboratories Inc., a leader in high-performance, analog-intensive, mixed-signal ICs, announced the purchase of the full product portfolio and intellectual property of California-based Touchstone Semiconductor Inc., an early-stage power management technology company and provider of high-performance, low-power analog IC products. Silicon Laboratories Inc. purchased the assets of Touchstone for $1.5 million.February 24th, 2014:
RF Micro Devices, Inc. and TriQuint Semiconductor, Inc. announced a definitive merger agreement under which the companies will combine in an all-stock transaction. To reflect the nature of this transaction as a merger of equals, the new company ("NewCo") will have a new name and shared leadership team. The boards of directors of both RFMD and TriQuint have unanimously approved the transaction.February 10th, 2014:
Microchip Technology Incorporated and Supertex Incorporated today announced that Microchip has signed a definitive agreement to acquire Supertex for $33 per share in cash, which represents a total equity value of about $394 million, and a total enterprise value of about $246 million, after excluding Supertex's cash and
investments on its balance sheet of approximately $148 million.
The acquisition is expected to be accretive to Microchip's non GAAP earnings per share in the first full quarter after completion of the acquisition.January 14th, 2014:
Exar Corporation announced that it has acquired Stretch, Inc., a provider of software configurable processors supporting the video surveillance market. The transaction, which closed today, will provide Exar with the technology to deliver an end-to-end high-definition solution for both digital and analog transmission of data from the camera to the DVR or NVR in surveillance applications.
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