Mergers and Acquistions News
Categories: Semi-Conductors
September 19th 2011, 15:51PM
French chipmaker STMicroelectronics is open to US and Asia acquisitions in order to expand its microprocessor and motion sensor business.
Chief executive of the firm Carlo Bozotti made this claim in an interview with the Wall Street Journal today (September 19th).
The group has $1 billion (£636 million) ready to spend on takeovers. Mr Bozotti said that this was more likely to be used for expansion of its existing product base - microprocessors and motion sensors - rather than new ventures.
"We have the financial strength to address merger and acquisition opportunities if the opportunity arises," he said, adding: "We do not want to do more but rather do better and faster what we already have."
He specified his ambition was to become a major leader in the two aforementioned areas, which he stated was a big task in terms of semiconductors.
STM and Ericsson completed their merger in February 2009 after the acquisition of NXP Semiconductor's 20 per cent stake in ST-NXP Wireless. 
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