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< Semtech acquires Triune Systems for $45M

Semtech has completed the acquisition of Triune Systems, a privately-held supplier of wireless charging and power management platforms targeted at high and low power, high efficiency applications. The acquisition will add approximately 35 employees with the majority of these employees based in Plano, Texas. Semtech acquired all of the outstanding equity interests of Triune Systems for an aggregate purchase price of $45M consisting of $35M cash paid at closing, with an additional cash consideration of $10M to be paid in six months and additional contingent consideration subject to achieving certain future financial goals. In conjunction with the transaction, Semtech expects to fund the aggregate purchase price using its revolving line of credit. Semtech expects the deal to be slightly accretive for its fiscal year 2016. Triune Systems CEO Ross Teggatz will join Semtech as General Manager of Semtech’s Power Management and High-Reliability Product Group.