Chipmaker Standard Microsystems Corp (SMSC.O) said it would acquire Conexant Systems Inc (CNXT.O) for about $200 million in a cash-and-stock deal, to strengthen its foothold in the automotive and industrial markets. The Hauppauge, New York-based company also forecast a weak fourth-quarter profit on inventory build-up, sending its shares down 8 percent. SMSC, which makes chips that help PCs communicate with keyboards and external drives, will assume Conexant's net debt of about $85 million. Conexant shareholders will get $1.125 per SMSC share in cash and $1.125 in stock.
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