Dialog buys SiTel

Headquartered in the Netherlands, with approximately 140 employees, SiTel is a provider of semiconductors for short range wireless connectivity and VoIP applications. Under the terms of the transaction, Dialog paid an enterprise value of $86.5 million. The transaction is expected to be accretive to both cash and IFRS EPS from Q3/2011. The acquisition has been funded using Dialog’s existing cash reserves. “We see the acquisition as highly complementary to our existing business and it will allow Dialog to address adjacent emerging connectivity markets in a compelling way. 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,” said Dr. Jalal Bagherli, CEO of Dialog Semiconductor.