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April 7th, 2011
Gennum Q1 profit beats, to buy Nanotech Semiconductor
Gennum Corp posted a quarterly profit above market estimates, helped by a slew of product launches, and said it would acquire Nanotech Semiconductor for $34 million in cash.
Gennum said it expects the Nanotech deal to add to its 2012 GAAP earnings, and to this year's adjusted earnings.
The intellectual property firm could also pay Nanotech, which makes components for fiber optic communications markets, an additional $6 million under an earn-out agreement based on revenue targets over the next year.
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