Skyworks to buy Advanced Analogic for about $258.6 million

Reuters News
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Posted: May 26, 2011 5:24 PM
Skyworks to buy Advanced Analogic for about $258.6 million

(Reuters) - Analog chipmaker Skyworks Solutions <SWKS.O> has agreed to buy smaller rival Advanced Analogic Technologies <AATI.O> for a deal valued at $258.6 million in cash and stock.

Skyworks would pay $3.68 a share in cash and 0.8725 of its common stock for each outstanding Advanced Analogic share.

Based on Thursday's closing, the deal represents a 55 percent premium to Advanced Analogic shareholders.

Earlier this month, Woburn, Massachusetts-based Skyworks had acquired a privately held cellphone chipmaker for $210 million.

Skyworks shares fell slightly to $26.52 following the announcement, having closed at $27.03 on Thursday on Nasdaq.

Advanced Analogic Technologies shares were halted in extended trading. They closed at $3.90 on Thursday.

(Reporting by Himank Sharma in Bangalore; Editing by Joyjeet Das)


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