Media Coverage
Source: Law360, Daily Journal
Media Coverage
Press Contacts: Erik Cummins, Matt Hyams, Olivia Thomas
06.06.16
Business is looking a lot brighter for Integrated Memory Logic (iML), the makers of parts used in flat-panel displays and LED lights. A Beijing-based consortium comprising private equity fund E-Town Capital and semiconductor maker Chipone Technology Co. Ltd. has bought the company from Exar Corp. for $136 million.
In iML, the newly formed E-Town Chipone Technology Co. Ltd. gets an integrated circuit and systems designer that is expected to earn $27.1 million in sales during the first quarter of fiscal year 2017.
The deal, which was approved by Exar’s board and is awaiting regulatory approvals, is expected to close before the end of 2016. It marks Exar’s exit from the business, which it acquired in 2014 in a deal worth roughly $223 million. Exar now plans to focus its energies on analog and mixed-signal products.
Emerging Growth & Venture Capital partners Jorge del Calvo and Jim Masetti led the Pillsbury team that served as Exar’s legal counsel, including Executive Compensation & Benefits partner Howard Clemons and senior associate Amber Ward; Intellectual Property partner David Jakopin; Tax partner Brian Wainwright; International Trade partner Nancy Fischer and associate Matt Rabinowitz; and Emerging Growth & Venture Capital senior associate Gurpreet Bal and associate Gabrielle Grinberg.
Read more about this deal on Law360.