Semtech Corp (SMTC) Acquires Wireless IP Developer Cycleo SAS for $5M + Incentives

Semtech Corporation (Nasdaq: SMTC), has acquired Cycleo SAS and all of its assets, related companies and operations. Headquartered in Grenoble, France, privately-held Cycleo develops IP for wireless long-range semiconductor products used in smart metering and other industrial and consumer markets. Cycleo technology will be incorporated in future Semtech RF platforms that need to deliver extended range at lower cost and lower power.

Under the terms of the agreement, Semtech paid the stockholders of Cycleo $5 million in cash at closing. The stockholders will be able to earn up to an additional $16 million in cash based on the achievement of revenue and operating profit goals over the next four years. The transaction was funded from Semtech’s existing international cash reserves. Semtech estimates the transaction will have no material impact to earnings in its current fiscal year.

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