e2v to acquire Atmel Grenoble for $140 million

CHELMSFORD, ENGLAND-e2v technologies plans to buy Atmel Grenoble (France), a provider of image sensors and cameras, smart RF transceivers, aerospace-qualified microprocessors and broadband data converters, for US$140 million (£76 million) in cash.

CHELMSFORD, ENGLAND-e2v technologies plans to buy Atmel Grenoble (France), a provider of image sensors and cameras, smart RF transceivers, aerospace-qualified microprocessors and broadband data converters, for US$140 million (£76 million) in cash. The deal, which is expected to close July 31, is being funded by new banking facilities totaling £150 million (US$280 million) and from the proceeds of a new stock placement of 5,511,727 shares, which raised £12.5 million (US$23 million).

Atmel will retain rights to its patented fingerprint scanning recognition technology. All other Grenoble products, including image sensors and aerospace-qualified microprocessors, are included in the sale.

“This is an important step in Atmel’s plant to consolidate its manufacturing operations as we continue to focus resources on our core technologies,” said George Perlegos, chair and CEO.

e2v’s directors believe the acquisition represents an opportunity to strengthen the group’s position as a major global provider of specialized electronic components and sub-systems.

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