Semtech Acquires Cycleo SAS - Quick Facts

Semtech Corp.(SMTC) announced it acquired Cycleo SAS and all of its assets, related companies and operations. As per the terms of the agreement, Semtech paid the stockholders of Cycleo $5 million in cash at closing.

The stockholders will be able to earn up to an additional $16 million in cash based on the achievement of revenue and operating profit goals over the next four years.

Headquartered in Grenoble, France, privately-held Cycleo develops IP for wireless long-range semiconductor products used in smart metering and other industrial and consumer markets. Cycleo technology will be incorporated in future Semtech RF platforms that need to deliver extended range at lower cost and lower power, the company said.

Semtech said that the transaction was funded from its existing international cash reserves. Semtech estimates the transaction will have no material impact to earnings in its current fiscal year.

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