Allegro MicroSystems (ALGM) to Acquire Crocus Technology

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Go back to Allegro MicroSystems (ALGM) to Acquire Crocus Technology

Allegro MicroSystems to Acquire Crocus Technology to Accelerate Innovation in TMR Sensing Technology

August 8, 2023 6:01 AM EDT

-- Tunnel Magnetoresistance (TMR) Represents Fastest Growing Technology in Magnetic Sensing Approaching $1B SAM by 2030 --

MANCHESTER, N.H., Aug. 08, 2023 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (Allegro) (Nasdaq: ALGM), a global leader in power and sensing semiconductor technology for motion control and energy efficient systems, today announced that it has signed a definitive agreement to acquire Crocus Technology (Crocus) for $420 million in cash.

Crocus is a privately held company and a leader in advanced Tunnel Magnetoresistance (TMR) sensor technology. This acquisition brings unique technology and products well... More