UK-based ARM Holdings has disclosed that it is planning to purchase the California firm Artisan Components in a deal worth around $913 million.
UK-based ARM is well known for its portfolio of microprocessor, data engine and peripheral IPs as well as software and development tools. The IP line up of the company complements that of Artisan, which also provides physical IP components for the design and manufacture of complex SoC integrated circuits (ICs). Artisan’s product portfolio includes standard cell libraries, embedded memories, input/output cells, analog functions and high-speed interface IP.
Under the terms of the agreement between the two companies, Artisan stockholders will receive $9.60 in cash and ARM stock equal to 4.41 ARM ADSs for each outstanding Artisan share.
Warren East, Chief Executive Officer of ARM will continue as Chief Executive Officer of the combined companies, with Lucio L. Lanza, Chairman of Artisan, and Mark R. Templeton, President and Chief Executive Officer of Artisan, joining the Board of Directors of ARM as a non-executive director and an executive director, respectively, on completion of the transaction.
The completion of the transaction is expected to occur in the fourth quarter of 2004 and is subject to ARM and Artisan stockholder and regulatory approvals and other customary closing conditions.