Freescale Enters Into Definitive Agreement to Acquire SigmaTel
SigmaTel’s analog and mixed-signal IC products to complement Freescale’s multimedia portfolio
AUSTIN, Texas. – Freescale Semiconductor, a privately held, global leader in the design and manufacture of embedded semiconductors and SigmaTel, Inc. (NASDAQ: SGTL), today announced that they have entered into a definitive agreement for Freescale to acquire SigmaTel. SigmaTel is a leading provider of analog intensive, mixed-signal integrated circuits (ICs) for the digital multimedia market.
Under the terms of the agreement, Freescale will pay $3 per outstanding share of SigmaTel stock representing approximately $110 million in cash. The agreement is subject to various customary closing conditions, including all necessary shareholder and regulatory approvals, and is expected to close in the second quarter of fiscal year 2008.
“The SigmaTel acquisition enhances the long-term, strategic value we can deliver to our customers,” said Lynelle McKay, senior vice president and general manager of Freescale’s Networking and Multimedia Group. “Freescale’s proven strengths in the high- performance multimedia and general purpose markets are complemented by SigmaTel’s strong analog and mixed-signal expertise in the portable media player and consumer audio markets.”
“The increased demand for feature rich, always-connected consumer electronics devices is driving manufacturers to look for platform-based solutions that will accelerate time to market,” said Phil Pompa, president and CEO of SigmaTel. “With the addition of SigmaTel, Freescale is the obvious choice for these next-generation devices"
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