Discrete, logic and analog semiconductor device maker Diodes Inc agreed to acquire Pericom Semiconductor for about US$400 million. Pericom Semiconductor is known for its clock/timing, logic and interface ICs. Pericom also makes power management ICs, and analog mixed signal application-specific ICs.
Dr. Keh-Shew Lu, President and Chief Executive Officer of Diodes, said “The proposed acquisition of Pericom accelerates the attainment of Diodes' goal of a $1 billion annual revenue run rate with 35 percent gross margin, while being immediately accretive to earnings. This transaction broadens Diodes’ analog footprint and adds a strong mixed-signal connectivity offering that will drive expanded product content in target market applications. Also, Pericom’s extensive timing product lines complement Diodes’ standard product portfolio and broaden our analog footprint. We look forward to integrating the Pericom team into Diodes’ family as we work closely with our customers to familiarize them with our new expanded offerings."
Alex Hui, President and Chief Executive Officer of Pericom said “Diodes’ size and scale provides an excellent platform for our products to gain access to a broader customer base and drive a higher level of growth than Pericom would be able to achieve as a standalone company. Most importantly, this transaction delivers significant value for our shareholders as well as for our employees and customers by creating the opportunity to be part of a larger organization and enabling even greater future success for Pericom.”