Vishay Intertechnology, a manufacturer of discrete semiconductors and passive components, announced it will acquire fabless IC design firm Capella Microsystems for $205 million. Capella, based in Taiwan, specializes in optoelectronics products, including sensors and encoders.
Vishay, headquartered in Malvern, Pa., says it plans to acquire Capella through a tender offer of up to 100 percent of Capella’s outstanding shares at a price of NT$139 per share ($4.62 U.S.).
If a majority, but less than 100 percent of the outstanding shares are tendered, Vishay will complete the acquisition of Capella by merger.
If a majority of the outstanding shares are tendered, the tender offer could close in September 2014 and be followed by Vishay’s acquisition of Capella in a merger by the end of January 2015.
Capella’s board approved the acquisition agreement. Senior management and a majority of the members of the board of Capella other than independent directors have entered into agreements to tender their shares in the tender offer.
The closing of the tender offer and merger are subject to customary closing conditions, including governmental approvals and clearances.
Marc Zandman, Vishay’s executive chairman and chief business development officer, said Capella’s strong market position for optical sensors complements Vishay’s current capabilities.
“The acquisition fits perfectly our strategy of supplementing our organic growth plan through targeted specialty acquisitions,” said Zandman.
Capella will add “crucial technological capabilities to Vishay’s optoelectronics business that we do not have in-house,” said Dr. Gerald Paul, Vishay’s president and chief executive officer.
He added the acquisition will strengthen Vishay’s position in the optical sensors market and “significantly reduce our time to market for these products.”