May 9, 2018 / 8:21 PM / 6 months ago

BRIEF-Adesto Announces Acquisition Of S3 Semiconductors

May 9 (Reuters) - Adesto Technologies Corp:

* ADESTO ANNOUNCES ACQUISITION OF S3 SEMICONDUCTORS

* ADESTO TECHNOLOGIES CORP - FINANCED TRANSACTION WITH EXISTING CASH AND A NEW CREDIT FACILITY IN AMOUNT OF $35 MILLION

* ADESTO TECHNOLOGIES CORP - ADESTO TERMINATED ITS FORMER CREDIT FACILITY WITH WESTERN ALLIANCE BANK

* ADESTO TECHNOLOGIES - DEAL VALUED AT ABOUT $35 MILLION, WITH AN ADDITIONAL EARN-OUT PROVISION BASED ON CERTAIN MILESTONES TO END OF CY 2019

* ADESTO TECHNOLOGIES - S3 SEMICONDUCTORS TO BECOME A BUSINESS UNIT OF CO, CONTINUE TO OPERATE UNDER CURRENT OPERATING MODEL AT EXISTING GLOBAL SITES Source text for Eikon: Further company coverage:

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