Silergy Corp. (TSEC:6415) agreed to acquire smart meter and energy monitoring business from Maxim Integrated Products, Inc. (NasdaqGS:MXIM) for approximately $110 million on December 31, 2015. Silergy plans to use the net proceeds to repay the syndicated loan between the Silergy and Yuanta Commercial Bank Co., Ltd., as facility agent, used for the acquisition of the smart meter and energy monitoring. The transaction is subject to satisfaction of customary closing conditions. As on February 25, 2016, the Federal Trade Commission has granted early termination of waiting period under HSR act. The transaction is expected to close during the third quarter of fiscal 2016. KPMG Corporate Finance Co., Ltd. acted as the fairness opinion provider for Silergy Corp. (TSEC:6415).

Silergy Corp. (TSEC:6415) completed the acquisition of smart meter and energy monitoring business from Maxim Integrated Products, Inc. (NasdaqGS:MXIM) during the quarter ending March 26, 2016.