SAN FRANCISCO Pericom Semiconductor Corp. said Monday (Aug. 29) that it has cancelled a previously announced $12.5 million investment in Aker Technology Co. Ltd. and will instead buy Aker's 99.9 percent interest in frequency control products company eCERA for roughly $14.7 million. Pericom said it expects the transaction to close Aug. 31.
Pericom (San Jose, Calif.) said the investment in Aker, which was announced July 19, was voided by mutual agreement after Pericom and Aker failed to agree on the future direction of Aker.
"The acquisition of eCERA, whose results will be consolidated with Pericom's, is expected to be accretive to Pericom's earnings immediately," said Alex Hui, Pericom's president and CEO, in a statement. "We also expect that our integrated circuit and frequency control products expertise will expand eCERA's capabilities and that the combined entity will be a much stronger frequency control products supplier."
Hui said the company plans to provide more information about the acquisition in early September.