Microchip Technology Inc said it would acquire Taiwan's ISSC Technologies Corp, which provides low-powered bluetooth technology for the Internet of Things, in a deal that values the company at about $328.5 million. The offer of $4.74 per share, or T$143, is at a premium of 16.7 percent to ISASC's Wednesday close of $122.50.
Microchip Technology Incorporated develops and manufactures specialized semiconductor products used by its customers for a variety of embedded control applications. Shares of MCHP traded higher by 0.74% or $0.34/share to $46.34. In the past year, the shares have traded as low as $35.74 and as high as $49.03. On average, 1570660 shares of MCHP exchange hands on a given day and today's volume is recorded at 991505.
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