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Maxim Integrated reaches deal to acquire Volterra

Posted: 19 Aug 2013 ?? ?Print Version ?Bookmark and Share

Keywords:Maxim? Volterrra? acquire? power management? enterprise?

Maxim Integrated Products recently entered into a definitive agreement to acquire Volterra Semiconductor for $23 per share, which represents a 55 per cent premium to Volterra Semiconductor's closing share price on August 14, 2013. The transaction value is approximately $605 million equity value or $450 million net of Volterra's cash position of approximately $155 million.

Volterra is a high-current, high-performance, and high-density power management solutions provider. The company develops highly integrated solutions primarily for the enterprise, cloud computing, communications, and networking markets. Its portfolio of highly integrated products enables better performance, smaller form factors, enhanced scalability, improved system management, and lower total cost of ownership.

"Maxim Integrated is known for its highly integrated solutions. With Volterra, we will strengthen our position in the enterprise and communications markets," said Tun? Doluca, Maxim's President and Chief Executive Officer. "We add a very talented team and leading-edge proprietary technology in high-current power management solutions, which further diversifies our business model."

"This is an attractive transaction for our employees, customers, and investors," said Jeffrey Staszak, Volterra's President and Chief Executive Officer. "The Volterra team will build upon Maxim's scale and market leadership to expand our ability to deliver innovative and differentiated products to our customers. We remain committed to providing our customers with advanced technology solutions and world-class quality and support. Joining forces with the innovative Maxim team will present exciting new opportunities for Volterra's talented employees."

At $9 billion, power management is currently the largest and fastest-growing product segment in the analogue market, according to Databeans. Maxim offers a broad portfolio of products for power conversion: switching regulators, linear regulators, charge pumps, digital Point-of-Load (POL) converters, and Power Management Integrated Circuits (PMICs), primarily in medium-to-low current applications. Volterra's high-current technology expands our position in this growing segment of the analogue market.

Pending regulatory approvals, Maxim's acquisition of Volterra is expected to close early in the December quarter.





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