Mosaid gets $590 Million takeover offer from Sterling Partners

Posted by Techvibes Newsdesk on 2011-10-27 8:19:00 PM

Ottawa's MOSAID Technologies announced today that they have entered into an agreement which will see US private equity firm Sterling Partners will acquire them for a cash payment of $46 per share. The total value of the transaction is approximately $590 million.

The $46 per share bid represents a premium of 45.3% to MOSAID’s closing price on the Toronto Stock Exchange on August 17, 2011, the last trading day prior to the announcement by Ottawa's Wi-LAN Inc. of its intention to make its unsolicited offer, and a 9.5% premium to the unsolicited take-over bid by Wi-LAN at an amended price of $42.00 per share.

MOSAID stock closed at $43.42 earlier today.

Company:
MOSAID Technologies Inc.
Website:
http://www.mosaid.com
Location:
Ottawa, Ontario, Canada

MOSAID is a high technology company engaged in two closely related activities: the design of advanced memory chips for standard memory and Application Specific Memory (ASM) requirements and the design, manufacture, marketing and support of engineering test systems for memory chips. Memory performs the vitally important storage function in a rapidly expanding range of electronic equipment, including computers from... more

Company:
Wi-LAN Inc.
Website:
http://www.wi-lan.com
Location:
Ottawa, Ontario, Canada

Wi-LAN is the future of high-speed wireless data/Internet communications, and our focus in this area is two-fold. We are a leading innovator in the field of high-speed wireless communications products, offering our clients a unique, cost-effective wireless solution to their data communications challenges. As well, we are dedicated to advancing and adding to our two patented wireless technologies, Wide-band... more

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Techvibes Newsdesk

Techvibes Newsdesk

Techvibes is Canada's leading technology media property. Originally founded in 2002, Techvibes is dedicated to covering social, mobile, and startup news that impacts Canadians. Our editors and nationwide network of reporters combine breaking hyperlocal news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and... more

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