Date: 21/11/2012

MEMSIC receives acquisition proposal from IDG

MEMSIC, Inc. said it has received an unsolicited, non-binding proposal from IDG-Accel China Growth Fund II L.P., for itself and on behalf of its affiliated funds and certain nominees (collectively, "IDG"), to acquire all outstanding shares of common stock of MEMSIC not currently owned by IDG or its affiliates for cash in the amount of $4.00 per share.

MEMSIC's MEMS accelerometer products are used to measure tilt, shock, vibration and acceleration in mobile phones, automotive safety systems and video projectors.
Author: Srinivasa Reddy N