Successful exit: US listed company MPS acquires Sensima Technology
Monolithic Power Systems (MPS) (Nasdaq: MPWR), a leading fabless manufacturer of high-performance analog and mixed-signal semiconductors, announced on July 24, 2014 that it has acquired Sensima Technology SA (Sensima) located in Switzerland. Sensima is a pre-revenue, developer of magnetic sensor technologies for angle measurements as well as three-dimensional magnetic field sensing. Sensima's patented magnetic angle sensors are used in rotary encoders, electronically commutated motors and a broad range of products. Combining Sensima's real time precision magnetic angle sensing with MPS's technologies could offer revolutionized solutions for key industries such as automotive, industrial and cloud computing.
The purchase price includes an initial cash payment of $11.7 million and a subsequent cash earn-out payment of up to $8.9 million which will be based upon Sensima's achieving certain performance goals. Key employees will also be eligible to receive time-based and performance-based restricted stock units in connection with this transaction. A portion of the initial cash consideration payable to the stockholders will be placed into escrow under the terms of the acquisition agreement. The Buyer was represented by Jones Day (Silicon Valley) with the support of Lenz & Staehelin (Geneva) with regard to Swiss law matters.
id est avocats is proud to have assisted Sensima's board, management and selling shareholders in this successful exit and sale to a US listed company. Our corporate team also adivsed the sellers in a previous exit for an EPFL company, Jilion, to Dailymotion at the end of 2013.