NEW YORK (AP) — Chip maker Atmel Corp. said Wednesday it will pay $88 million to buy touch sensor manufacturer Quantum Research Group Ltd. to expand its product offerings.
The company expects Quantum, which makes touchpad navigation for personal media players, home appliances, home security, industrial equipment, to add to its earnings beginning in the fourth quarter of 2008.
Atmel will pay an additional $42 million in cash and Atmel common stock to certain Quantum shareholders if Quantum reaches some performance goals in the next three years.
The deal is expected to close in the first quarter of 2008.
Atmel shares rose 4 cents to close Wednesday at $3.20.