MEMSIC to be Acquired by IDG-Accel China Capital II, L.P. and Affiliates
Andover, MA – April 23, 2013 – MEMSIC, Inc . (NasdaqGM: MEMS), a leading MEMS solution provider, today announced that it has agreed to be acquired by IDG-Accel China Capital II, L.P. and its affiliates MZ nvestment Holdings Limited and MZ Investment Holdings Merger Sub Limited (collectively, “IDG”), for $4.225 per share in cash. Affiliates of IDG currently hold approximately 19.5% of the company’s outstanding common stock. IDG and its affiliates will acquire all the outstanding shares of common stock of MEMSIC that are not currently owned by them, including shares underlying outstanding in-the-money equity awards, for approximately $88.5 million.
MEMSIC Semiconductor is a world's leading MEMS technology solution provider. MEMSIC provides customers with one-stop solutions from MEMS sensor chips, software algorithms to application solutions. MEMSIC’s stable and mass-produced products include the globally unique thermal accelerometers, capacitive accelerometers, AMR magnetometers, low-power consumption Hall switches and more, which are widely used in automotive, industrial, medical, wearable, smart home, and consumer electronics applications, providing people with a more intelligent, reliable and safe technological experience by sensing the displacement and motion changes of the physical world. Sensing the beautiful life with MEMSIC. For more information, please visit www.memsic.com or follow us on WeChat and LinkedIn.