SAN FRANCISCO — Lawyers from Wilson Sonsini and Pillsbury chipped in as advisers on semiconductor maker Microchip Technology’s $246 million acquisition of Sunnyvale-based Supertex Inc. for an enterprise value of $246 million, which excludes $148 million in cash and equivalents on the target’s balance sheet.
Microchip, headquartered in Chandler, Ariz., will pay $33 per share in cash for Supertex, which produces high-voltage analog and mixed-signal chips. Microchip Technology President and CEO Steve Sanghi said the combination would deepen his company’s offerings in the medical, LED lighting, industrial and telecommunications markets. Both companies’ stock rose on Monday following the announcement. The deal is expected to close in the second quarter.
