Maxim Integrated to acquire Volterra Semiconductor for $23 Per Share
Maxim Integrated Products has announced that it has entered into a definitive agreement to acquire Volterra Semiconductor Corporation for $23 per share, which represents a 55% 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.
Maxim Integrated is known for its highly integrated solutions. With Volterra, we will strengthen our position in the enterprise and communications markets. We add a very talented team and leading-edge proprietary technology in high-current power management solutions, which further diversifies our business model,” said Tunç Doluca, President & CEO, Maxim.
Jeffrey Staszak, President & CEO, Volterra, said, This is an attractive transaction for our employees, customers, and investors. 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.
Maxim’s acquisition of Volterra is expected to close early in the December quarter.
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