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Industry News

IDT Teams with Future Electronics for Global Product Distribution

Integrated Device Technology, Inc. (IDT) (NASDAQ: IDTI) announced today that it has signed a global franchise agreement with Future Electronics. Under the agreement, Montreal-based Future Electronics becomes IDT’s newest distributor of products through its offices in 44 countries spanning the globe.

“Future Electronics is a global leader in electronics distribution, with the technical expertise to demonstrate the value IDT’s system solutions brings to a wide range of advanced applications,” said Jennifer Bleakney, vice president of sales distribution and channel marketing at IDT. “We are confident the Future Electronics team will be an effective advocate for IDT’s leading technology.”

Bourns Completes First Phase of Murata Trimmer Product Transition

Bourns, Inc., a leading manufacturer and supplier of electronic components, has completed the first phase of the transition of Murata® trimmer products. Bourns announced earlier this year that it would acquire specific assets of Murata's product line. To ease the conversion to Bourns-manufactured replacement products, Murata granted Bourns permission to continue to use its original part numbers. Bourns will continue to manufacture the acquired trimmer products to Murata specifications, and the company will honor its standard warranty terms on replacement products based on Murata specifications.

Renesas to Acquire Intersil to Create the World’s Leading Embedded Solution Provider

Renesas Electronics Corporation (“Renesas”, TSE: 6723), a premier supplier of advanced semiconductor solutions, and Intersil Corporation (“Intersil”, NASDAQ:ISIL), a leading provider of innovative power management and precision analog solutions, today announced they have signed a definitive agreement for Renesas to acquire Intersil for US$22.50 per share in cash, representing an aggregate equity value of approximately US$3.2 billion (approximately 321.9 billion yen at an exchange rate of 100 yen to the dollar). The transaction has been unanimously approved by the boards of directors of both companies. Closing of the transaction is expected in the first half of 2017, following approval by Intersil shareholders and the relevant governmental authorities.

ON Semiconductor Successfully Completes Acquisition of Fairchild Semiconductor for $2.4 Billion in Cash

Acquisition creates a leader in power management and analog semiconductors, and provides a platform for the company to rapidly expand profitability

ON Semiconductor Corporation (Nasdaq: ON) (“ON Semiconductor”) and Fairchild Semiconductor International, Inc. (Nasdaq: FCS) (“Fairchild”) jointly announced today that ON Semiconductor has successfully completed its previously announced $2.4 billion cash acquisition of Fairchild.

Cree Expands LED Components Distribution Network with Avnet

Cree, Inc. (Nasdaq: CREE) and Avnet, Inc. (NYSE: AVT), a leading global technology distributor, announced a strategic agreement that expands coverage in the Americas for the distribution of Cree's comprehensive portfolio of innovative LED components including high-power, Chip-on-Board, high brightness and LED modules. This agreement demonstrates Cree and Avnet’s shared commitment to provide customers with the industry’s best LED solutions and service to continue driving LED adoption.

TDK's subsidiary EPCOS to acquire Tronics to further grow its sensor business

TDK Corporation (“TDK”, TSE: 6762) and Tronics Microsystems SA (“Tronics”, ISIN:FR0004175099 ALTRO) jointly announced today that TDK’s wholly-owned subsidiary EPCOS AG (“EPCOS”), a leading manufacturer of electronic components, modules and systems based in Munich, Germany, and Tronics have signed a tender offer agreement pursuant to which EPCOS will launch a public tender offer for all publicly-held shares of Tronics for EUR 13.20 per share. On a fully-diluted equity value basis, the transaction represents a value of Tronics’ equity of approximately EUR 48.65 million. This represents a 78.4% premium over Tronics’ closing share price on July 7, 2016, the trading day immediately preceding the stock trading suspension, and a 62.1% premium to the volume-weighted average price during the last 60 trading days prior to this suspension.

Analog Devices and Linear Technology to Combine Creating the Premier Analog Technology Company

Analog Devices, Inc. (NASDAQ: ADI) (“Analog Devices”) and Linear Technology Corporation (NASDAQ: LLTC) (“Linear Technology”) today announced that they have entered into a definitive agreement under which Analog Devices will acquire Linear Technology in a cash and stock transaction that values the combined enterprise at approximately $30 billion(1). Upon completion of the acquisition, Analog Devices will be the premier global analog technology company with approximately $5 billion in anticipated annual revenue.

Micron Cuts Jobs Amid a Challenging Global Memory Market

U.S.-based semiconductor manufacturer Micron Technology Inc. said Thursday (June 30) it'd cut an unspecified amount jobs as part of a string of cost cutting initiatives in the face of challenging conditions in the international memory chip market.

Mark Durcan, Micron CEO, said in a conference call with analysts following Micron’s quarterly report that the firm considers the cost cutting measures are wise and will help provide the greatest long term results for the business.

Intel Announces Restructuring Initiative to Accelerate Transformation

Intel Corporation Announces a Restructuring to Speed its Transition to a Company that Powers the Cloud and Billions of Smart, Connected Computing Devices

SANTA CLARA, Calif., April 19, 2016 – Intel Corporation today announced a restructuring initiative to accelerate its evolution from a PC company to one that powers the cloud and billions of smart, connected computing devices. Intel will intensify its focus in high-growth areas where it is positioned for long-term leadership, customer value and growth, while making the company more efficient and profitable.

Cypress to Acquire Broadcom’s Wireless Internet of Things Business

$550 Million Acquisition to Reinforce Cypress’s Leadership in Embedded Systems Solutions and Broaden Its Footprint in the Fast-Growing IoT Market

SAN JOSE, Calif. & SINGAPORE, April 28, 2016 – Cypress Semiconductor Corp. (Nasdaq: CY) and Broadcom Limited (Nasdaq: AVGO) today announced the signing of a definitive agreement under which Cypress will acquire Broadcom’s Wireless Internet of Things (IoT) business and related assets in an all-cash transaction valued at $550 million. Under the terms of the deal, Cypress will acquire Broadcom’s Wi-Fi, Bluetooth and Zigbee IoT product lines and intellectual property, along with its WICED brand and developer ecosystem. Broadcom’s IoT business unit, which employs approximately 430 people worldwide, generated $189 million in revenue during the last twelve months. The acquisition strengthens Cypress’s position in key embedded systems markets, such as automotive and industrial, and establishes it as a leader in the high-growth consumer IoT market, a segment that includes wearable electronics and home automation solutions.