transaction is expected to close in the second quarter of 2012. Micrel currently expects the acquisition to be dilutive to earnings per share by approximately $0.02 per share on a non-GAAP basis in 2012 and accretive within 18 months of closing. Micrel expects to operate PhaseLink as a wholly owned subsidiary.
PhaseLink provides high performance integrated timing solutions to system and oscillator manufacturers. PhaseLink’s Crystal Oscillator chips (Ultra-Low Jitter Analog Frequency Multipliers and PhasorVI VCXO and XO) are targeted at high-performance communications and storage markets. Its programmable clocks meet the needs of demanding consumer, mobile and industrial applications. PhaseLink enjoys a global customer base in these markets.
“The acquisition of PhaseLink substantially enhances Micrel’s penetration into the timing market. Micrel’s and PhaseLink’s technologies and products are well aligned from a strategic perspective, bringing more best-in-class products to broader markets and a worldwide customer base,” noted Ray Zinn, Chairman and CEO, Micrel. “High-performance products, dependable quality, and timely support are the hallmarks of Micrel customer satisfaction. With this acquisition, along with the recently released ClockWorks™ Flex products, Micrel plans to be a one-stop shop for our customers’ high-performance clock and timing needs.”