Allegro acquires TMR magnetic sensor developer Crocus Technology for $420 million

【Lansheng Technology Information】Allegro MicroSystems recently announced that it has signed a definitive agreement to acquire Crocus Technology, a developer of tunneling magnetoresistance (TMR) technology magnetic sensors. It is reported that the transaction will pay 420 million US dollars in cash.

By the end of 2022, Crocus Technology's monolithic CMOS integrated XtremeSense TMR sensor has shipped more than 100 million units. The company claims that its XtremeSense TMR technology enables higher magnetic sensitivity, more stable temperature performance, lower noise and lower power consumption.

"Allegro MicroSystems has invested in TMR technology for the past decade to provide our customers with high-performance, innovative solutions that help them design products with optimal performance," said Vineet Nargolwala, president and CEO of Allegro MicroSystems, in a statement. .As the megatrend of electrification and automation accelerates, TMR technology is becoming more widely used. This highly complementary acquisition is a perfect fit with Allegro MicroSystems' growth plans and our focus on electric vehicles, clean energy and automation."

Currently, the transaction has been approved by the boards of directors of both companies. However, the transaction is still subject to customary regulatory approvals and closing conditions and is expected to close in late 2023.

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