Analog and mixed signal semiconductor maker Skyworks Solutions (SWKS) said late yesterday it has agreed to acquire Advanced Analogic Technologies (AATI) for $6.13 per share, a 52% premium to the stockís 30-day average.
Advanced Analogic Technologies is an analog semiconductor company focused on enabling energy-efficient devices for consumer electronics, computing and communications markets.
Skyworks said the acquisition expands its portfolio with highly complementary analog semiconductor products including battery chargers, DC/DC converters, voltage regulators and LED drivers.
Skyworks said the analog power management semiconductor market is a strategic growth market for it, noting that Gartner research forecasts growth in the market to $12.1 billion in 2014, up from $9.9 billion in 2010.
Under the terms of the deal, Advanced Analogic shareholder will receive $3.68 per share in cash and a portion of a Skyworks share worth $2.45 for each outstanding share of Advanced Analogic owned.
The transaction is subject to Advanced Analogic shareholder and regulatory approval.
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