SiTime Acquires Clock Products From Aura Semiconductor; In An All-Cash Transaction, Comprised Of Fixed Payments Totaling $148M, And Earnouts Capped At $120M. The Transaction Is Expected To Close By The End Of 2023
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SiTime Corporation (NASDAQ:SITM) has announced an agreement to acquire clock products and license all clock IP from Aura Semiconductor in an all-cash transaction totaling $148 million, with earnouts capped at $120 million. The deal is expected to close by the end of 2023. This acquisition will allow SiTime to offer both clock and oscillator products, targeting the communications, datacenter, and AI markets. The company will also open an office in Bengaluru, India as part of the transaction.
November 01, 2023 | 9:30 pm
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SiTime's acquisition of Aura Semiconductor's clock products will expand its product portfolio and potentially increase its market share in the communications, datacenter, and AI markets.
The acquisition of Aura Semiconductor's clock products will allow SiTime to offer both clock and oscillator products, which could increase its competitiveness in the market. The deal also includes the opening of an office in India, which could expand SiTime's global presence and support operations.
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