Silicon Laboratories Inc's Silicon Laboratories International Pte. Ltd. Completes Acquisition Of Energy Micro AS-Form 8-K

Silicon Laboratories Inc reported in its Form 8-K that on July 1, 2013, Silicon Laboratories International Pte. Ltd. (Silicon Laboratories International), the Singapore subsidiary of Silicon Laboratories Inc. (Silicon Laboratories) completed the acquisition of Energy Micro AS (Energy Micro) for initial cash consideration of $115.0 million plus an amount equal to the sum of Energy Micro’s current assets minus the sum of current liabilities and debt as of the closing date. The Share Purchase Agreement also provides for deferred consideration with a fair value of approximately $22 million at June 6, 2013 to be paid out over four years. The Purchase Agreement also provides for additional consideration of up to approximately $33.3 million that is payable based on the extent to which the annual revenue growth rate from certain Energy Micro and Silicon Laboratories products exceeds 25% per year, over a five-year period from fiscal 2014 through 2018.