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Thursday, Feb 29, 2024

Semtech Acquires Colorado Company

Semtech Corp. has acquired substantially all the assets of IC Interconnect Inc., a private provider of services to the silicon chip manufacturing industry from its facilities in Colorado Springs, Colo. Semtech in Camarillo paid $7 million in cash plus the assumption of unspecified obligations. Semtech funded the purchase from its cash funds and the company does not expect the deal to have a material impact on its finances. IC Interconnect provides chip-scale packaging and related services to semiconductor manufacturers. With the acquisition, Semtech’s payroll will grow by 42 employees who will remain in Colorado Springs. The company announced the acquisition Wednesday. Shares of Semtech (SMTC) closed Thursday up 30 cents, or a fraction of a percent, to $45.50 on the Nasdaq.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.

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