GSI Technology, Inc. (GSIT) - NASDAQ
  • Sep. 17, 2015, 10:17 AM
    • Networking/telecom SRAM maker GSI Technology (GSIT +0.7%) has rejected a $6.50/share cash/stock acquisition proposal from optical component/telecom ASIC vendor GigOptix (GIG +2.3%).
    • GigOptix originally offered to buy GSI in Aug. 2014. With GSI's current market cap ($96M) higher than GigOptix's ($76M) - at the buyout priced, GSI would be valued at $147M - a deal would effectively amount to a reverse merger.
    | Sep. 17, 2015, 10:17 AM
  • Aug. 19, 2014, 9:18 AM
    • GigOptix (NYSEMKT:GIG) is proposing to buy GSI Technology (NASDAQ:GSIT) for $161M, or ~$6.50/share. The price includes $2/share in cash, ~$1.33/share in stock (based on GigOptix's trading levels over the last 3 days), and a $3.17/share special dividend payable by GSI.
    • GigOptix asserts pairing its telecom RF component and ASIC offerings with with GSI's networking DRAM/SRAM ops can "create a world-class high-speed communication semiconductor business."
    • The deal is expected to close in calendar Q4. GigOptix believes it would be immediately accretive on an adjusted EBITDA basis.
    • GIG +12.8% to $1.50. GSIT +25.5% to $6.20.
    | Aug. 19, 2014, 9:18 AM
Company Description
GSI Technology, Inc. designs, develops and markets a broad range of high performance memory products for networking, military, medical, automotive and other applications. It offers long product support life cycles, short lead times, the largest high performance memory product portfolio in the... More
Sector: Technology
Industry: Semiconductor - Broad Line
Country: United States