Wednesday, November 18, 2009
Semtech Buys Sierra Monolithics For $180M
Camarillo-based Semtech, a manufacturer of mixed signal and analog semiconductors, announced late Wednesday that it is acquiring Irvine-based Sierra Monolithics, in a deal worth $180M in cash. Sierra Monolithics has around 110 employees, and operations in both Irvine and Redondo Beach. Semtech said it expects the transaction to be accretive to its GAAP earnings per share within twelve months, generating approximately $50M in revenue in calendar year 2009. Charles Harper, President of Sierra Monolithics, and Javed Patel, CEO of the firm, will become part of Semtech's leadership team.