Silicon Laboratories Acquires Silicon MAGIKE
Silicon Laboratories Inc. (Austin, TX) announced the acquisition of privately held Silicon MAGIKE Inc. (Austin, TX), a development-stage company creating high-voltage, mixed-signal integrated circuits (ICs). Silicon MAGIKE has design expertise in many fields, including telecommunications, networking, high-voltage semiconductor physics, and high-voltage precision analog circuit design. Silicon Laboratories acquired Silicon MAGIKE in an all-cash transaction for approximately $16 million. The terms of the transaction also provide for the potential of additional cash consideration based on business performance metrics over the 18-month period ending June 30, 2007.
"This technology acquisition brings us a very experienced, mixed-signal design team and significant development progress on high-voltage products, which are traditionally high-margin, highly differentiated, and address a large, fragmented market," said Silicon Laboratories Chairman and interim Chief Executive Officer Nav Sooch. "This acquisition is consistent with our customer and market diversification strategy, and further expands our world-class design team."
"We are very pleased to be part of the Silicon Laboratories team," said Silicon MAGIKE founder, Chairman and Chief Technical Officer Russ Apfel. "We believe the technology we have been working on will dramatically reduce the complexity and cost of high-voltage ICs, and create a long-term competitive advantage while contributing to Silicon Laboratories' diversification, growth, and profitability goals over time."