Mergers and Acquistions News
Categories: Semi-Conductors
July 15th 2009, 16:13PM
Silicon and subsystems firm Microtune has announced the signing of a definitive agreement to acquire semiconductor developer Auvitek International.
The deal is valued at approximately $9 million (£5.5 million) in cash and stock, with the possibility of a potential earn-out if certain performance targets are met.
Microtune, which invented the single-chip TV tuner, supplies radio frequency (RF) silicon and systems solutions for the cable TV, digital TV and automotive entertainment industries.
The addition of Auvitek's complementary digital components is hoped to transform Microtune into a developer of high-integrated RF-to-bits solutions.
James A Fontaine, president and chief executive officer of Microtune, said the additional staff and technology will allow the firm to target a broader segment of the worldwide integrated digital TV markets.
"It enriches our portfolio of products; it substantially builds our intellectual property and employee talent base and it adds resources, alliances and relationships that will help accelerate penetration into the China digital TV market," he commented.
Last month Jeff Krupp, Microtune's chief financial officer, led a presentation at the UBS Global Technology and Services Conference.
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