Allegro MicroSystems to acquire Heyday Integrated Circuits for $19M

May 31, 2022 4:13 PM ETAllegro MicroSystems, Inc. (ALGM)By: Jessica Kuruthukulangara, SA News Editor
  • Allegro MicroSystems (NASDAQ:ALGM) said Tuesday it will acquire Heyday Integrated Circuits for ~$19M in cash.
  • Heyday is a private firm that specializes in compact, fully-integrated isolated gate drivers that enable energy conversion in high-voltage gallium nitride and silicon carbide wide-bandgap semiconductor designs.
  • The acquisition will complement ALGM's existing solutions for energy efficiency, including its current sensor solutions.
  • The deal is also expected to expand ALGM's addressable market for electric vehicles, solar inverters, data center and 5G power supplies, and broad-market industrial applications.
  • The acquisition is expected to close in Q3 of calendar year 2022.

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