Semtech To Pay $494M For Data Communications Firm Gennum

Camarillo-based Semtech, the maker of analog and mixed signal semiconductors, said late Monday that it will pay $494M for Gennum Corporation, a Canadian maker of communications semiconductors. Semtech said it believes the acquisition will extend its portfolio into the metro, access and enterprise computing markets. Gennum is headquartered in Burlington, Ontario, Canada, and has approximately 450 employees. Semtech said it will fund the acquisition through a combination of cash on hand, plus new bank financing, including $400M in a financing commitment from Jeffries Finance.