Microchip Technology Inc., Chandler AZ, provider of microcontroller, mixed-signal, analog and Flash-IP solutions, has signed a definitive agreement to acquire Supertex Inc., Sunnyvale CA, representing a total equity value of about $394-million.
The acquisition has been unanimously approved by the Boards of Directors of each company and is expected to close in the second quarter of calendar 2014, subject to approval by Supertex’s stockholders, regulatory approvals and other customary closing conditions.
“Supertex’s deep domain knowledge in high voltage analog and mixed signal technologies and strong position in the medical, industrial and lighting markets, complement many of Microchip initiatives in these areas,” says Steve Sanghi, president and CEO of Microchip Technology.
“Microchip has demonstrated consistent profitability, technology leadership and growth in its core businesses. We believe that this acquisition provides the best vehicle for us to realize significant value for Supertex’s shareholders, as well as the opportunity to scale up to the much stronger sales and manufacturing platforms of Microchip” adds Henry Pao, president and CEO of Supertex.