M&A Deal Summary

Atheros Communications Acquires Intellon

On September 8, 2009, Atheros Communications acquired semiconductors company Intellon from Element Partners and Salt Creek Capital for 244M USD

Acquisition Highlights
  • This is Atheros Communications’ 2nd transaction in the Semiconductors sector.
  • This is Atheros Communications’ largest (disclosed) transaction.
  • This is Atheros Communications’ 2nd transaction in the United States.
  • This is Atheros Communications’ 1st transaction in Florida.

M&A Deal Summary
Date 2009-09-08
Target Intellon
Sector Semiconductors
Buyer(s) Atheros Communications
Sellers(s) Element Partners
Salt Creek Capital
Deal Type Add-on Acquisition
Deal Value 244M USD

Target

Intellon

Orlando, Florida, United States
website
Intellon Corp. is a designer and marketer of integrated circuits (ICs) for powerline communications, providing HomePlug® - compliant and other powerline ICs for home networking, networked entertainment, commercial and Smart Grid applications.

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Buyer(S) 1

Buyer

Atheros Communications

San Jose, California, United States

website

Category Company
Founded 1998
Sector Semiconductors
Employees1,778
DESCRIPTION

Atheros Communications, Inc. is a developer of semiconductor system solutions for wireless communications products. Atheros combines its wireless systems expertise with high-performance radio frequency (RF), mixed signal and digital semiconductor design skills to provide highly integrated chipsets that are manufacturable on low-cost, standard complementary metal-oxide semiconductor (CMOS) processes.

DEAL STATS #
Overall 2 of 4
Sector (Semiconductors) 2 of 3
Type (Add-on Acquisition) 2 of 4
State (Florida) 1 of 1
Country (United States) 2 of 4
Year (2009) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-12-14 u-NAV Microelectronics

Irvine, California, United States

u-NAV Microelectronics Corp. is a manufacturer of semiconductor equipment.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-07 Ubicom

San Jose, California, United States

Ubicom provides system-level solutions to OEMs for a wide range of products including wireless routers, access points, gateways, appliances and other network nodes. These products are used in applications ranging from voice-over-IP and online gaming, to video conferencing and print serving.

Buy -

Seller(S) 2

SELLER

Element Partners

Wayne, Pennsylvania, United States

Investor Investor Investor Investor

website

Category Growth Capital Firm
Founded 2005
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Element Partners is a specialist private equity firm focused on late-stage investments in alternative energy and clean technology companies. Target businesses are at or near profitability with experienced management. Sectors of interest include energy/power, water/environmental controls, chemicals/advanced materials, and manufacturing/industrial. Element Partners was formed in the year 2005 and is based in Radnor, Pennsylvania.

DEAL STATS #
Overall 11 of 24
Sector (Semiconductors) 1 of 1
Type (Add-on Acquisition) 6 of 15
State (Florida) 1 of 1
Country (United States) 10 of 21
Year (2009) 2 of 2
Size (of disclosed) 2 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-07-06 TAS Energy

Houston, Texas, United States

TAS Energy, Inc. is a manufacturer of packaged cooling and energy systems for multiple end-markets, including Power Generation, Commercial & Industrial Cooling, Advanced Heat Recovery (including Geothermal), and Data Centers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-04-28 EdeniQ

Visalia, California, United States

EdeniQ, Inc. is a cellulosic ethanol technology company. Edeniq’s capital light and operationally efficient solutions can be easily integrated into existing biorefineries that produce ethanol, other biofuels, biochemicals, and/or bio-based products.

Buy -
SELLER

Salt Creek Capital

Woodside, California, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2009
Size Small
Type Sector Agnostic
DESCRIPTION

Salt Creek Capital (SCC) is a private equity firm focused on the lower middle-market. SCC targets growth oriented businesses (organic or through acquisitions) with the potential to lead their respective markets. Prospective companies are generally profitable ($1 million+ of EBITDA) and generate $3 to $50 million of revenue. Sectors of interest include business services, energy services, distribution, franchising, logistics, and specialty finance. Target transaction situations include recapitalizations, successions, growth capital financings, shareholder liquidity needs, MBOs, and divestitures. Salt Creek Capital is based in Menlo Park, California.

DEAL STATS #
Overall 4 of 18
Sector (Semiconductors) 1 of 1
Type (Add-on Acquisition) 2 of 6
State (Florida) 1 of 2
Country (United States) 3 of 17
Year (2009) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-01 Ultracor

Stockton, California, United States

Ultracor is a manufacturer of high-performance composite materials and systems for the space and aerospace manufacturers with high-quality specialty honeycomb materials and systems. Ultracor was founded in 1995 and is based in Stockton, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-01 Storage On Wheels

Las Vegas, Nevada, United States

Storage On Wheels is a provider of rents and sells storage containers and trailers to a diverse customer base across Southern Nevada. Storage On Wheels also offers container storage services. Storage On Wheels was founded in 1979 and is based in Las Vegas, Nevada.

Buy -
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