Semiconductors
Freescale Snaps Up SigmaTel
02/04/08 - 09:16 AM EST
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Freescale Semiconductor, plotting a future in digital media, agreed to buy SigmaTel (SGTL - Cramer's Take - Stockpickr) in a $110 million deal. Freescale, a wireless chip maker that was taken private last year, said Monday that it will pay $3 share for Austin, Texas-based SigmaTel. The deal represents a 67% premium over SigmaTel's closing price of $1.79 Friday. Shares of SigmaTel surged 52% in pre-market trading Monday. SigmaTel makes semiconductors for a variety of consumer devices, including media players and some models of Apple's (AAPL - Cramer's Take - Stockpickr) iPods. The news comes just days after Freescale's largest customer, Motorola (MOT - Cramer's Take - Stockpickr), announced that it was exploring the possible sale of its mobile phone business.
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