Presidio Investors sells ElevATE Semiconductor to Diodes Incorporated
The all-cash $250 million deal adds a fabless semiconductor company that designs low-power, high-density integrated circuits for the automated test equipment market.
Takeaways
- Presidio Investors is exiting ElevATE Semiconductor through a sale to Diodes.
Presidio Investors sold ElevATE Semiconductor, a San Diego-based fabless semiconductor designer of low-power, high-density integrated circuits for automated test equipment, to Diodes Incorporated in a $250 million all-cash transaction.
The acquisition is expected to add roughly $50 million of revenue in the first twelve months, with annual revenue growth projected above 20% over the next four years and gross margins significantly higher than Diodes' corporate average.
ElevATE’s IC technology addresses the ATE industry’s most demanding requirements with the lowest power and highest density solutions, aiming to deliver the lowest possible cost of test.
The deal has been approved by both boards and ElevATE’s stockholders and remains subject to regulatory approvals and customary closing conditions.
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