Tuesday, April 23, 8:18 AM
MEMSIC (MEMS) agrees to be acquired by IDG-Accel China Capital II and its affiliates for $4.225/share in cash ($102M) , a 56% premium to yesterday's close of $2.71. IDG-Accel, which already owns 19% of MEMSIC, had offered $4/share for the MEMS sensor maker last November. The deal is expected to close in Q3.
Comment![Tech, On the Move, M&A]
Wednesday, November 21, 2012, 9:12 AM
Memsic (MEMS) +86.8% premarket after receiving an offer from IDG-Accel China Growth Fund II to acquire all of the semiconductor sensor systems provider's shares IDG Capital Partners doesn't already own for $4/share in cash, representing a 130% premium to its Tuesday closing price.
Comment![Tech, M&A, On the Move]
Wednesday, May 9, 2012, 12:07 PM
MEMSIC (MEMS -37.8%) gets crushed after delivering its Q1 report. Though EPS of $0.05 beat by $0.08, the company is guiding for Q2 revenue of $14M-$16M and EPS of -$0.04 to -$0.06, below a consensus of $23.1M and $0.03. MEMSIC blames a major drop in smartphone design wins with a large customer (probably Samsung, which made up 37% of 2011 sales). Fellow MEMS chipmaker InvenSense (INVN) cratered post-earnings last week.
Comment![Tech, Earnings, On the Move]