Analog IC maker Monolithic Power Systems has acquired Swiss magnetic sensor maker Sensima Technology SA. Sensima's patented magnetic angle sensors are used in rotary encoders, electronically commutated motors and such products.
"We are pleased with this high quality technology acquisition," said Michael Hsing, CEO and founder of MPS. "Sensima's unique technology will further our diversification strategy and create new opportunities with key customers."
The purchase price includes an initial cash payment of $11.7 million and a subsequent cash earn-out payment of up to $8.9 million which will be based upon Sensima's achieving certain performance goals.