Diodes offers $400 million to buy Pericom
The boards of directors of Diodes (Plano, Texas) and Pericom (Milpitas, Calif.) have agreed on the deal, which is still subject to approval by Pericom’s shareholders, as well as other customary closing conditions and regulatory approvals. The transaction is expected to close in the fourth quarter of 2015.
It will create a company with approximately $1 billion in annual sales. The combination of the two companies previous 12 months financial results shows a combined revenue of approximately $1.0 billion and gross profit of approximately $337 million.
Diodes expects to fund the purchase price of the acquisition mainly by drawing down additional capital following a recent $200 million increase to its existing credit facility.
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