Semtech Corporation Announces Definitive Agreement on Sale of Cellular Module Business to Compal Electronics

Semtech Corporation Announces Definitive Agreement on Sale of Cellular Module Business to Compal Electronics

Semtech Corporation (Nasdaq: SMTC), a leading provider of high-performance semiconductors powering AI data center networking, Internet of Things (“IoT”) and cellular connectivity and intelligent connected devices worldwide, today announced that it has entered into a definitive agreement to sell its cellular module business to Compal Electronics, Inc. (TWSE: 2324) for $62 million in cash, subject to customary adjustments. The transaction has been approved by both Semtech's and Compal's Board of Directors.