Atmel Acquires Newport Media for $170,000,000

Feed Type
Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=bbfa329b-4f0b-44fe-a6c4-8e4ce654ea84
Date
7/7/2014
Company Name
Newport Media
Mailing Address
1 Spectrum Pointe Dr. Lake Forest, CA 92630 USA
Company Description
Newport Media is a fabless semiconductor company that develops and sells highly integrated solutions for emerging digital audio and mobile TV broadcasts standards. Market research firm In-Stat forecasts that the market for TV enabled cellular phones will grow to over 80 million units annually by 2010.
Website
http://www.newportmediainc.com
Transaction Type
M&A
Transaction Amount
$170,000,000
Transaction Round
Proceeds Purposes
M&A Terms
The purchase price is $140 million cash, subject to working capital adjustments, plus an additional earn-out of up to $30 million to be paid subject to achievement of future revenue thresholds over two years.