Dialog Semiconductor Plc (DLG, DLGNF.PK) announced it has entered into an agreement to acquire iWatt Inc., a provider of digital power management integrated circuits, for a cash payment of approximately $310 million, with additional contingent consideration of up to $35 million.
Headquartered in Silicon Valley, California, iWatt has approximately 180 employees worldwide. iWatt has a strong design and application engineering presence in Asia.
Dialog Semiconductor expects the acquisition to be accretive in the first quarter after closing to underlying profit per share. The transaction is expected to be accretive to profit per share, on an IFRS basis, by the end of 2014.
by RTT Staff Writer
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