Exar Buys Integrated Memory Logic Limited

Fremont-based analog and mixed signal semiconductor maker Exar Corporation announced this morning that it has acquired Integrated Memory Logic Limited (iML), a developer of analog and mixed signal semiconductors for the flat panel display market. The deal is worth approximately $223M. Exar said it will pay $91.00 per iML share in cash for iML, with the deal worth approximately $94M net of cash acquired in the deal. Exar was advised by O'Melvany & Myers LLP and Lee & Li in the deal; iML was represented by RBC Capital Markets LL, Morrison & Foerster LLP, LCS & Partners and Maples and Calder in the transaction.