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Date: 08-07-14

Atmel to acquire Newport Media

Atmel has signed a definitive agreement to acquire Newport Media, Inc. for $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.

NMI recorded $43 million in annual revenue during 2013 and the acquisition is expected to be accretive to Atmel's non-GAAP financials in the second half of 2015, said Atmel.

"This acquisition immediately adds 802.11n Wi-Fi and Bluetooth to our offerings and will accelerate our introduction of low-energy Bluetooth products," said Steve Laub Atmel's President and CEO. "Combined with our existing Wi-Fi and Zigbee solutions and industry leading microcontroller portfolio, Atmel is positioned for substantial growth in the Internet of Things marketplace."

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