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Semtech Corporation, a leading provider of high-performance semiconductors powering AI data center networking, Internet of Things (IoT) and cellular connectivity and intelligent connected devices worldwide, announced that it has entered into a definitive agreement to sell its cellular module business to Compal Electronics, Inc. for $62 million in cash, subject to customary adjustments. The transaction has been approved by both Semtech's and Compal's Board of Directors.
Under the terms of the agreement, Compal will acquire substantially all of the assets and operations comprising Semtech's cellular module business, including its associated intellectual property, customer relationships, and personnel.
“This divestiture sharpens our focus on the product portfolio where we have the strongest conviction in growth and industry leadership: data center and LoRa connectivity,” said Hong Hou, president and chief executive officer. “It reflects the broader discipline we have been applying across the portfolio, concentrating our resources and our technology leadership where we believe we can create the most value over time.”
