ISS-FWIW-I own some of the acquiring company. Purchased in Dec 2010.
DJ Integrated Silicon To Buy Si En Integration For $20 Million
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Source: DJ
Date: 01/24/11
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01/24 16:52 =DJ Integrated Silicon To Buy Si En Integration For $20 Million
DOW JONES NEWSWIRES
Integrated Silicon Solution Inc. (ISSI) agreed to buy China-based Si En Integration Holdings Ltd. in a $20 million cash deal the semiconductor maker said will diversify its product portfolio.
Integrated Silicon said the transaction would allow the company to obtain higher-margin analog and mixed-signal products, while strengthening the company's overall business and presence in the growing Chinese market. The Si En deal will also expand Integrated Silicon's market share with existing and new customers, the company said.
The acquisition is expected to close in the current quarter. Integrated Silicon believes the purchase will immediately add to earnings.
Founded in 2005, privately held Si En posted revenue of $22.2 million, gross margin of 42.5% and operating income of $5.2 million for the year ended Dec. 31. Si En targets the mobile communications, digital consumer, networking and automotive markets. Si En's primary products are audio amplifiers, LED drivers, power management and temperature sensors.
Integrated Silicon has noted it has seen weaker demand lately. Earlier this month, the company cut its fiscal first-quarter outlook, citing weaker-than- expected demand for its random-access memory products.
Integrated Silicon's shares closed up 2.3% to $9.51 and were inactive in after-hours trading.
-By John Kell, Dow Jones Newswires; 212-416-2480; john.kell@dowjones.com
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(END) Dow Jones Newswires
01-24-11 1652ET
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