Wednesday, June 25, 2008

Silicon Labs to Buy Integration Associates for $80M

Austin, Texas-based semiconductor manufacturer Silicon Laboratories Inc. announced Tuesday that it has agreed to acquire Integration Associates, a Silicon Valley-based producer of analog-intensive integrated circuits. The deal, worth a net $80 million, has already earned the approval of both companies' board of directors and now awaits the regulatory and customer closing procedures. Necip Sayiner, Silicon Labs' president and chief executive officer, said in a statement that the acquisition will enable his company to bolster its engineering team and to increase its product portfolio. A privately held company, Integration Associates is headquartered in Mountain View, Calif., and maintains offices and design centers throughout Europe and North America. An estimated closing date was not provided, nor was the proposed method of payment (i.e., cash or stock).