SAN JOSE, Calif. — California Micro Devices Inc. has entered into a definitive agreement to acquire Arques Technology Inc., a fabless manufacturer of analog semiconductor devices. The deal is valued at more than $8 million.
With the acquisition of Arques (Santa Clara, Calif.), California Micro (Milpitas, Calif.) has expanded its product line. Arques makes white LED drivers for mobile handsets and DDR memory voltage regulators for digital consumer electronics products.
Founded in 2001, Arques currently has 25 employees. Most of the employees will be offered jobs at California Micro.
Under the terms of the agreement, the acquisition will be a cash transaction consisting of an initial payment of approximately $8.0 million and an earn out based on performance of the Arques product line during the eighteen months after the acquisition is completed. The transaction is expected to close in early April, 2006.
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