Diodes announced June 9, 2008 that it has completed its acquisition of Zetex plc in an all cash deal. The acquisition strengthens Diodes’ product portfolio by expanding into the industrial and automotive markets. It also creates cross-selling opportunities within the customer base and increases the company’s geographic footprint.
In addition, the Diodes and Zetex have complementary wafer processing and packaging technologies, so the merger will expand Diodes’ capabilities and capacity. Combined revenue for the two companies in 2007 revenue was $528 million.
The transaction will close under the previously released terms by which each Zetex shareholder will receive 85.45 pence in cash per Zetex ordinary share, valuing the fully diluted share capital of Zetex at approximately $176 million USD (based on a US$:GBP£ exchange rate of 1.9778).