Who wants to buy Atmel?
Atmel Corp. wants to join the bandwagon of M&As currently trending in the global semiconductor market. According to a Reuters report, the chipmaker is exploring a possible sale to any potential buyer.
Atmel, a mid-sized chip vendor with revenue last year of $1.41 billion, is known for its MCU and touch-sensing technology. Atmel’s latest pitch to the investment community is that its strategy—banking on the emerging Internet of Things market—has transformed it into a higher-margin, higher-growth business.
During the company’s earnings call last month, Steven Laub, president and CEO, announced his plan to retire at the end of August. He told financial analysts, "Today, the company is comprised of very desirable businesses: microcontrollers, wireless, touch, security and automotive, all of which are positioned to grow in attractive high growth markets."
Steven Laub, Atmel CEO
Citing two unnamed sources, Reuters reported that Atmel has retained investment bank Qatalyst Partners to help with the sale process.