Microtune Acquired By Zoran

Plano-based Microtune, a developer of silicon tuners for the set-top box and digital television market, has been acquired. According to Silicon Valley-based firm Zoran Corporation, it is paying $2.92 per share in cash, or approximately $166M, for Microtune. Accounting for cash on hand, the value of the deal is $84M. Zoran said the combined firm will benefit from technology integration and multiple cross-selling opportunities, and strengthen its position in the DTV market.