Exar to Acquire Taiwan's iML for Flat Panel Silicon

Exar Corporation, which supplies analog mixed-signal, video and data management solutions, agreed to acquire Integrated Memory Logic Limited (iML), a provider of analog mixed-signal solutions for the flat panel display market.  Exar will pay acquire all of the outstanding shares of iML for NT$91.00 (approximately US$3.00) per iML share in cash and acquire any remaining shares at NT$91.00 per share pursuant to a follow-on merger. The gross transaction value will be NT$6.8 billion (approximately US$223 million), or NT$3.1 billion (approximately US$94 million), net of cash acquired.

Exar said the iML acquisition supports Exar's strategy of building a large scale diversified analog mixed-signal business.

"The acquisition of iML will increase the diversity of the markets we serve and add highly differentiated analog mixed-signal and power management products to our portfolio. iML is a leading provider of power management and color calibration solutions for large and medium-sized flat panel displays in the LED television market as well as high-resolution tablets. The company serves customers in Korea, Taiwan, Japan and China, which will enhance Exar's existing presence in these markets.  Additionally, iML has demonstrated consistent profitability and gross margins that reflect the value of the company's differentiated products," said Louis DiNardo, Exar President and CEO.

http://www.exar.com
http://www.iml.com