Semtech To Buy Sierra Monolithics For $180M In Cash

Law360, New York (November 19, 2009, 5:39 PM EST) -- Semiconductor maker Semtech Corp. has agreed to buy rival Sierra Monolithics Inc. for $180 million in cash, in an effort to increase its exposure to the telecommunications and defense markets.

The cash deal will see Semtech, publicly held since 1967, swallow up the more junior, quickly growing SMI, a company founded in 1986 that currently employs 110 workers, Semtech said in a statement Wednesday.

Privately held SMI has grown revenue at a compound annual growth rate of over 40 percent over the past five years, Semtech...
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