MILPITAS, Calif., 11 Sept. 2007. Intersil Corp., maker of high-performance analog solutions, has signed a definitive agreement to acquire Planet ATE Inc., a privately held, fabless semiconductor supplier to the automated test equipment (ATE) market.
In connection with the acquisition, Intersil expects to pay approximately $46 million net in cash at closing in exchange for all outstanding shares of capital of Planet ATE. Additional consideration of up to $12 million in cash may be payable to the former holders of Planet ATE capital stock upon satisfaction of certain performance goals in 2008. The boards of directors of both companies have unanimously approved the merger.
