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© pichetw dreamstime.com Components | November 26, 2015

Diodes completes acquisition of Pericom

Diodes Incorporated has completed its acquisition of Pericom Semiconductor.
The transaction has now closed and become effective, with each share of Pericom being converted into the right to receive USD 17.75 in cash, without interest. The aggregate consideration will be approximately USD 413 million, including the value of Pericom equity awards paid out or converted to Diodes equity awards.

As a result of the transaction’s close, the common stock of Pericom will no longer be listed for trading on the NASDAQ stock exchange as of the close of market today.

“We are very pleased to complete the acquisition of Pericom, which will be immediately accretive to Diodes’ earnings and also provide enhanced margin expansion opportunities,” stated Dr. Keh-Shew Lu, President and Chief Executive Officer. “Also notable, this acquisition broadens Diodes’ analog footprint and adds a strong mixed-signal connectivity offering that will drive expanded product content in our target market applications. Pericom also provides an extensive timing product line that complements Diodes’ standard product portfolio.”

Dr. Lu also added, “I would like to personally welcome the Pericom employees to the Diodes’ family. Together, we are able to accelerate the attainment of our goal to reach a USD 1 billion annual revenue run rate with 35 percent gross margin, and I look forward to expanding our global organization and achieving future success.”
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