Global Sources
EE Times-Asia
Stay in touch with EE Times Asia
EE Times-Asia > Manufacturing/Packaging

Exar diversifies analogue mixed-signal business with iML

Posted: 29 Apr 2014 ?? ?Print Version ?Bookmark and Share

Keywords:Exar? iML? analogue mixed-signal?

Exar Corporation is buying Taiwan-listed Integrated Memory Logic Limited (iML) for approximately $223 million or $3 per iML share. The acquisition underpins Exar's diversification efforts for its analogue mixed-signal business.

Under the terms of the transaction, Exar's subsidiary will commence a tender offer to acquire all of the outstanding shares of iML and acquire any remaining shares at the same value per share pursuant to a follow-on merger. The gross transaction value will be about $223 million, or $94 million net of cash acquired.

iML develops specific analogue, power management, and mixed signal integrated circuits. These are designed primarily for display, mobile systems, and lighting markets. Extending to areas of system interface and analogue circuit implementation, its portfolio will add differentiated analogue mixed-signal and power management products to Exar.

The tender offer is scheduled to expire on the 29th of May, unless the tender offer is extended. The transaction, which is expected to close in the second quarter of fiscal 2015, is subject to: the minimum tender of 70 per cent of the then outstanding iML shares; the approval of the follow-on merger by iML shareholders; and other customary closing conditions.

As part of the tender offer, Exar's subsidiary has made an agreement with certain shareholders comprising approximately 32 per cent of the outstanding shares of iML. Once closed, iML will become a wholly owned subsidiary of Exar, and its stock will cease trading on the Taiwan Stock Exchange.

Article Comments - Exar diversifies analogue mixed-sign...
*? You can enter [0] more charecters.
*Verify code:


Visit Asia Webinars to learn about the latest in technology and get practical design tips.

Back to Top