Perez Correa Gonzalez y Asociados (PCG) advised Semtech Corporation on the sale of its subsidiary Semtech Corpus Christi Corporation's business in Mexico.
Semtech Corporation is a publicly traded company listed on the Nasdaq Stock Exchange (SMTC) and a leading global supplier of advanced algorithms and high-performance analog and mixed-signal semiconductors. Its subsidiary was acquired by Micross Components, Inc. ("Micross"), a provider of advanced microelectronics services and die and wafer components, to enhance the growth of that part of its business.
The Company announced that it completed the sale of its high reliability discrete diode production business to Micross for USD $30 million in an all cash transaction.
Revenues for the last year in this business were approximately USD $14 million. It is worth mentioning that the more than 200 plant employees located in Reynosa, Tamaulipas will continue to work in this new stage of the company under Micross' command.
"It was an honor to have Semtech Corporation’s trust and to work along its management team, led by its Vice President Charles B. Ammann, and O'Melveny & Myers’ exceptional legal team, led by Eric Zabinski and Alexandra Piarino, in the Mexican portion of this interesting and relevant transaction for this business sector," said Omar Aguilar, partner at Perez Correa Gonzalez (PCG).
This transaction was also supported by KPMG Corporate Finance LLC and O'Melveny & Myers LLP.