Vishay Intertechnology To Buy Capella Microsystems For About $205 Mln

(RTTNews) - Vishay Intertechnology, Inc., (VSH), a maker of discrete semiconductors and passive electronic components, Friday said it would acquire Taiwan-based Capella Microsystems Inc., a design company specializing in optical sensors, for nearly NT$6,051 million or $205 million.

Vishay plans to buy Capella through a tender offer of up to 100 percent of Capella's outstanding shares at a price of NT$139 per share. The offer is expected to close in September followed by Vishay's acquisition of 100 percent of Capella by the end of January 2015.

Commenting on the transaction, Gerald Paul, Vishay's President and Chief Executive said: "Capella will add crucial technological capabilities to our successful and growing opto business that we do not have in-house." "It will considerably strengthen Vishay's position in the fast growing market for optical sensors and significantly reduce our time to market for these products," he added.

Pepper Hamilton LLP and Lee & Li, Attorneys-at-Law, acted as legal counsel to Vishay. Oppenheimer & Co. acted as exclusive financial advisor and Jones Day acted as legal counsel to Capella.