The transaction is expected to close in the second quarter of 2012. Micrel currently expects the acquisition to be dilutive to earnings per share by approximately $0.02 per share on a non-GAAP basis in 2012 and accretive within 18 months of closing. Micrel expects to operate PhaseLink as a wholly owned subsidiary.
PhaseLink provides high performance integrated timing solutions to system and oscillator manufacturers.Its crystal oscillator chips (ultra-low jitter analog frequency multipliers and PhasorVI VCXO and XO) are targeted at high-performance communications and storage markets. Its programmable clocks meet the needs of demanding consumer, mobile and industrial applications.
"The acquisition of PhaseLink substantially enhances Micrel's penetration into the timing market. Micrel's and PhaseLink's technologies and products are well aligned from a strategic perspective, bringing more best-in-class products to broader markets and a worldwide customer base," noted Ray Zinn, Chairman and CEO, Micrel.