國際電子商情訊，美國整合單片機(jī)、模擬器件和閃存專利解決方案的供應(yīng)商，芯片制造商美國微芯科技公司將以9.39億美元收購競爭對手Standard Microsystems Corp（SMSC），以擴(kuò)大汽車電子與消費(fèi)電子行業(yè)的芯片市場份額。
通過收購SMSC，Microchip計劃將在消費(fèi)和工業(yè)市場進(jìn)行擴(kuò)張。
報道稱，SMSC制造混合信號連通解決方案，能夠讓數(shù)據(jù)連接到USB設(shè)備和無線音頻產(chǎn)品當(dāng)中。微芯與SMSC均生產(chǎn)消費(fèi)電子設(shè)備的嵌入式微控制器。這些設(shè)備包括電視機(jī)、汽車儀表等等。凱普斯通投資分析師杰弗里·施雷納（Jeffrey Schreiner）稱：“或許微芯認(rèn)為他們可以借助SMSC的生產(chǎn)線促進(jìn)汽車制造相關(guān)的芯片業(yè)務(wù)增長。SMSC近幾年的確做得非常成功?！?
當(dāng)前SMSC市值為5.88億美元。2011財政年，該公司的汽車芯片銷售業(yè)務(wù)營收8460萬美元，而汽車芯片業(yè)務(wù)是其第三大業(yè)務(wù)，增長較為迅速。相比而言，微芯公司的市值為67.7億美元，并以每股37美元的價格收購SMSC。根據(jù)湯姆森路透發(fā)布的數(shù)據(jù)，SMSC擁有2240萬股股票，收購價格也是據(jù)此算出。
微芯表示，交易的全部股本價值將達(dá)到9.39億美元。除去SMSC賬戶上1.73億美元的資金及投資，該企業(yè)價值將達(dá)到7.66億美元。
如果這筆交易能夠達(dá)成，它將是微芯公司有史以來最大的一筆收購計劃。
Microchip預(yù)計，這一收購交易預(yù)計將于今年第三季度完成，在收購?fù)瓿芍?，公司的凈利潤將有望獲得大幅提升。
Microchip股價周三在早盤交易中跌幅不到1%，股價為35美元。
本文授權(quán)編譯自EE Times，版權(quán)所有，謝絕轉(zhuǎn)載
參考英文原文：Microchip to buy SMSC, plotting new expansion,by Junko Yoshida
相關(guān)閱讀：
• 聯(lián)想出手，弘毅欲購爾必達(dá)后轉(zhuǎn)手中芯國際
• 思科巨資收購NDS，付費(fèi)電視多屏火熱、機(jī)頂盒黯淡？
• DTS將以現(xiàn)金及股票交易收購SRSiraesmc
{pagination}
Microchip to buy SMSC, plotting new expansion
Junko Yoshida
NEW YORK – Microchip Technology has announced its signing of a definitive agreement to acquire Standard Microsystems Corporation (SMSC), a company focused on mixed-signal connectivity solutions, for $37.00 per share in cash, which represents a total equity value of about $939 million. SMSC’s balance sheet consists of cash and investments worth about $173 million, making a total enterprise value of some $766 million, according to Microchip.
The deal puts Microchip – long known as a “l(fā)ong-tail” company with 70,000 customers – on a new trajectory.
With the SMSC acquisition, Microchip will likely be more exposed to the fast-changing, low-margin consumer market it has long avoided. (SMSC has a sizable business in input/output connectivity technologies in computing and consumer products.)
On the other hand, the acquisition will surely help Microchip expand into the automotive “infotainment” market -- a key to the company’s growth strategy. Microchip will ride on coattails of MOST (Media Oriented Systems Transport) bus, a high-speed multimedia network technology designed for the automotive industry, of which SMSC is a founding member and market leader, with close connections with automotive OEMs.
In a conference call Wednesday, Steve Sanghi, Microchip’s President and CEO, said of the acquisition, “We have very little product overlap, while we share many common customers.” That gives both companies “cross-selling” opportunities, he said.
Microchip is also attracted to SMSC’s rich IP portfolio and building blocks. Sanghi said that SMSC adds a strong patent portfolio to Microchip’s. Microchip takes over some 300 SMSC patents, in addition to 100 patents pending.
Among various SMSC product lines, Microchip identified two – automotive and wireless audio – as fast-growing segments.
In automotive alone, SMSC has leading positions in four key technologies: MOST bus for high-bandwidth infortainment backbone; Ethernet for diagnostic and software download; USB as consumer port (for mobile device connection); and Kleer, a proprietary standard, that provides low power, uncompressed, high-quality wireless audio and control.
Speaking of MOST, in which SMSC has strong working relationship with leading automotive OEMs, and has supplied USB, Ethernet and other wireless technologies, Sanghi said, “MOST is a dominant standard and I know SMSC has a leading position. We also know that the company has a number of design-wins in the pipeline.”
Sanghi expressed his hope that the deal will open doors for Microchip, allowing it to pitch its own microcontrollers and analog components for next-generation automotive infotainment systems. “Automotive OEMs are making architectural choices right now,” said Sanghi.
Asked by financial analysts what divisions or product lines of SMSC Microchip might think about pruning, Sanghi declined to comment. Noting SMSC’s annual sales of $412 million (in the fiscal year ending Feb., 29, 2012) and its 54.4 percent non-GAAP gross margin, Sanghi said, “Not a tremendous number of surgeries are needed here.”
In merging the two companies, Sanghi said, the first step is to take SMSC to a horizontal market loaded with 70,000 customers – a strategy familiar to Microchip . Looking back on the time Microchip got into the touch controller business, Sanghi remembered skeptics who said the technology was exclusive to the cell phone market. “But we found a plenty of design wins in industrial and automotive markets for touch.” Sanghi is convinced that Microchip can perform similar magic on some of SMSC’s technologies.
Asked if Microchip might plan to drive its embedded memory into SMSC's chips used in computers, Sanghi made it clear, “We have no intention to grow our memory business at the expense of margin disciplines.” He added that the company’s mindset for memory strategy is in going for profitability, not for market share.”
All of which comes down to the old refrain: How these two strangers are going to get along together is still, mostly, mystery.
