Allegro Microsystems completes the acquisition of Crocus Technology

Allegro MicroSystems has announced the completion of its acquisition of Crocus Technology, a developer of magnetic sensors specialized in tunnel magneto-resistance (TMR) technology. TMR is the property of a device to change its electrical resistance value under the effect of an external magnetic field, enabling improved detection of magnetic fields in a variety of applications as magnetic sensing is making its transition from electronics to spintronics. This purchase from the thirty-year-old US company, a developer and manufacturer of integrated circuits specializing in sensing solutions and power semiconductors, was concluded for $420 million. The transaction was financed by a combination of cash and a new seven-year senior secured term loan of $250 million.

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