Legerity One Step Closer to Acquisition
Austin-based Legerity, the world’s most trusted name in voice integrated circuits, is one step closer to being acquired by Zarlink Semiconductor Inc. Zarlink announced today that it has closed its previously announced offering raising $75,000,000 to partially finance the $134.5 million cash acquisition. However, the sale of Legerity may not be a financial windfall for its stockholders. Legerity was formed in July 2000 as a spinoff of Sunnyvale, Calif.-based Advanced Micro Devices Inc. The former AMD division was bought by an investor group led by Francisco Partners for $375 million while AMD retained a 10 percent stake in the company. Francisco Partners invested another $40 million into Legerity in 2001.
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