Dialog to acquire SiTel for $85million
Dialog Semiconductor has acquired SiTel in a deal worth approximately $84.5million. The transaction will add short range wireless connectivity and VoIP to Dialog's existing technology portfolio and is aimed at significantly expanding its share in the portable device market.
"We see the acquisition as highly complementary to our existing business as it will allow Dialog to address adjacent emerging connectivity markets in a compelling way," said Dr Jalal Bagherli, ceo. "The acquisition adds an established team of nearly 100 engineers, including expertise in low power rf. Dialog now benefits from a differentiated technology portfolio and an extremely competitive platform for our customers, leveraging both our superior power management technology with low power short range wireless technology."
Based in the Netherlands, SiTel's product portfolio addresses a broad range of personal portable applications including digital cordless phones, professional wireless headsets, gaming and portable medical devices. In financial year 2010 the company generated unaudited revenues of approximately $116.9million with a 42.4% gross margin. The acquisition is expected to be accretive in Q3 2011
