Microchip to buy Silicon Storage
From: Wall Street Journal
NEW YORK– Silicon Storage Technology Inc. agreed to be acquired by Microchip Technology Inc. for about $284 million, ending an earlier buyout deal of the flash-memory maker.
The Microchip deal–set to close in the second quarter–is for $2.85 a share, a 5.9% premium to Tuesday’s closing price for Silicon Storage and a 36% premium to private equity firm Prophet Equity’s earlier offer of $2.10 a share. After signing the deal with Prophet Equity in November, Silicon Storage contacted more than 140 potential buyers during a go-shop period and said it would enter talks with several parties. The Microchip acquisition, which has been approved by both companies’ boards of directors, comes as bankers and investors hope for a recovery from the stagnant deal-making environment in the sector.
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Indian mobile tower firm gets private equity funds
From: Reuters
MUMBAI — Privately-held telecom tower manager Tower Vision India Pvt Ltd said on it had secured equity financing from eight international investors led by private equity firm Quadrangle Capital Partners.
Gurgaon-based Tower Vision did not disclose the size of the transaction, but said the equity financing and concurrent debt financing would provide it with more than $300 million to expand its tower portfolio and increase its business.
Tower Vision manages towers at about 5,000 locations across 14 telecom circles. The Economic Times newspaper reported on Wednesday the Indian firm had raised $300 million in 2008 from investors including Morgan Stanley (MS.N).
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Coulomb Technologies Secures $14 Million in Series B Funding Led by Voyager Capital and Rho Ventures
From: Business Wire
CAMPBELL, Calif.– Coulomb Technologies, a leader in electric vehicle (EV) charging station infrastructure, announced that it has secured $14 million in Series B funding in a round led by Voyager Capital and Rho Ventures. Fueling its expansion into the market for powering EVs, Coulomb will use the funds to expand research and development, operations capital and sales. Coulomb’s expansion will also include further penetration into worldwide markets including Asia and South America. Siemens Venture Capital GmbH and Hartford Ventures, a strategic investment division of The Hartford Financial Services Group, Inc. also participated in the round.
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