Silicon Storage Technology Acquired By Microchip Technology

Sunnyvale-based Silicon Storage Technology said this morning that it has dropped a plan to be acquired by Technology Resources Holdings, and instead has entered into a definitive merger agreement with analog semiconductor firm Microchip Technology. SST said that Microchip will pay $2.85 per share in cash for the firm, in a deal worth approximately $284M. The acquisition terminates its prior, merger agreement with Technology Resource Holdings.