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docdivakar
The challenges are clearly cut out for MEMSIC, not sure how the Crossbow ...
Memsic gets bid from private equity firm
Peter Clarke
11/21/2012 1:12 PM EST
LONDON – MEMS maker Memsic Inc. said IDG-Accel China Growth Fund II LP has offered to acquire the company for $4.00 per share, or about $96.8 million in cash.
Memsic (Andover, Mass.) was founded in 1999 by Yang Zhao, who had previously worked at Analog Devices Inc. Zhao has served the company as CEO since its formation. The company has had a manufacturing base in Wuxi, China, since soon after its formation and specializes in combining MEMS sensors with CMOS-based IC technology.
IDG Capital Partners is primarily focused in investing in China-related venture capital and private equity projects. IDG-Accel China Growth Fund II LP is a fund that represents a number of China-focused private equity companies. The given address for correspondence is IDG Capital Management (HK) Ltd. in Hong Kong.
Two individuals involved in the bid are: Quan Zhou, who was appointed a director of Memsic in March 2011 and Chi Sing Ho.
Related links and articles:
www.memsic.com
News articles:
Chinese startup offers tri-axis accelerometer
Hanking starts building Chinese MEMS wafer fab
IBM, Memsic offer SDK for wireless sensor networks
Memsic buys 'mote' line from Crossbow
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docdivakar
11/30/2012 11:54 AM EST
The challenges are clearly cut out for MEMSIC, not sure how the Crossbow Technology's product line sales has helped MEMSIC in an accretive way. If more successful companies like InvenSense are facing challenges against Bosch and STM, perhaps it is in the best interest for MEMSIC to take the money on the table!
MP Divakar
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