Friday, July 10, 2009

Microtune To Buy Chinese Firm

Plano-based Microtune said Friday morning that the firm has signed a definitive agreement to acquire Shanghai-based Auvitek International, a developer of digital TV demodulator circuits for the HDTV and related markets. The deal is worth approximately $9M in cash and stock, with additional earnout. According to Microtune, the buy will expand it from a pure-play tuner supplier, to a developer of highly integrated RF-to-bits solutions. Microtune said the deal costs of $6.8M in cash plus one million shares of its stock, worth approximately $2.2M.