Sirenza Microdevices Inc., a Broomfield-based supplier of radio-frequency components for the communications and defense industries, on Tuesday announced the acquisition of Micro Linear Corp. in an all-stock deal valued at $46.5 million.
Chipmaker Micro Linear, based in San Jose, Calif., designs and manufactures integrated circuits for wireless and network applications.
“We believe the acquisition of Micro Linear is another significant step toward achieving our strategic goals of diversifying our end markets, expanding our product breadth and strengthening our world-class RF core competencies,” said Robert Van Buskirk, president and chief executive of Sirenza, in a statement.
The board of directors for both companies have approved the merger, which is expected to close during the fourth quarter.
According to the proposed merger, Micro shareholders will receive 0.365 of Sirenza stock for each Micro Linear share they own, or about $3.26 a share. The exchange ratio could change if the average closing price for Sirenza is less than $7.77 for 10 consecutive days preceding the merger’s closing, according to a regulatory filing.
Sirenza has a market capitalization of $408.6 million and has 252 full-time workers. Shares closed at $9.13, up 2.3 percent.
Micro Linear has a market cap of $41.3 million and employs 43 full-time workers. Shares closed at $3.18, up 20.2 percent.
Staff writer Will Shanley can be reached at 303-820-1260 or wshanley@denverpost.com.
