Thursday, May 1, 2008

Freescale Completes $110M Purchase of SigmaTel

Embedded computer chip manufacturer Freescale Semiconductor announced Wednesday that its $110 million acquisition of mixed-signal integrated circuit producer SigmaTel has closed. The news comes some 10 days after SigmaTel's stockholders approved the merger, which was first reported Feb. 4. Freescale said the purchase price calculates to $3 per outstanding share of SigmaTel common stock. Freescale also said that SigmaTel will become a part of Freescale's Multimedia Applications Division under Lynelle McKay, senior vice president and general manager of Freescale's Networking and Multimedia Group. Additionally, Freescale noted that SigmaTel's employees will be incorporated into its worldwide engineering, marketing and sales organizations. Both companies are headquartered in Austin, Texas.