December 29, 2004 – Vishay Intertechnology and SI Technologies this week announced the signing of a definitive merger agreement in which Vishay will acquire all of the outstanding capital stock of SI Technologies for approximately $17.65 million.
Vishay is a manufacturer of discrete semiconductors and passive electronic components. SI Technologies designs, manufactures and markets high-performance industrial sensors/controls, weighing and factory automation systems and related products.
Vishay will ensure payment at closing of the bank debt of SI, currently in the amount of approximately $10.5 million. SI Technologies stockholders will vote on the merger at a special meeting.
The merger is expected to be completed in 1Q05.