Microchip to acquire SST

On February 3, 2010, Microchip Technologies (MCHP) announced that it would enter into an agreement to acquire Silicon Storage Technology (SSTI) for $2.05 per share in cash. Separately, SST said today that it terminated its previously announced merger agreement. The boards of directors of both companies unanimously approved the transaction and are expected to close the transaction in the second quarter, subject to approval by SST shareholders and other conditions being met. Headquartered in Sunnyvale, California, SST is designed for applications such as consumer electronics, networking, wireless communications, and Internet computing

On February 3, 2010, Microchip Technologies (MCHP) announced an agreement to acquire Silicon Storage Technology (SSTI) for $2.05 per share in cash. Separately, SST said today that it terminated its previously announced merger agreement. The boards of directors of both companies unanimously approved the transaction and are expected to close the transaction in the second quarter, subject to approval by SST shareholders and other conditions being met.

Headquartered in Sunnyvale, California, SST manufactures and markets a wide range of memory and non-memory devices for high-volume applications such as consumer electronics, networking, wireless communications, and Internet computing.