Exar, Sipex Merge

Fremont-based Exar Corporation and Milpitas-based Sipex Corporation said today that the firms are in a definitive merger agreement, to combine the two companies. The firms said that under the terms of the merger agreement, Sipex stockholders will receive 0.6679 of a share of Exar for each share of Sipex. Exar shareholders will own approximately 67.6% of the new company. Exar designs mixed-signal semiconductor for the networking, storage, and other markets; Sipex develops analog semiconductors.