Monolithic Power Systems, Inc. (MPS) today announced that it has acquired Sensima Technology SA located in Switzerland. Sensima is a pre-revenue, developer of magnetic sensor technologies for angle measurements as well as three-dimensional magnetic field sensing. Sensima’s patented magnetic angle sensors are used in rotary encoders, electronically commutated motors and a broad range of products. Combining Sensima’s real time precision magnetic angle sensing with MPS’s technologies could offer revolutionized solutions for key industries such as automotive, industrial and cloud computing.
“We are pleased with this high quality technology acquisition,” said Michael Hsing, CEO and founder of MPS. “Sensima’s unique technology will further our diversification strategy and create new opportunities with key customers.”
MPS has acquired all of the outstanding shares of capital stock of Sensima. The purchase price includes an initial cash payment of $11.7 million and a subsequent cash earn-out payment of up to $8.9 million which will be based upon Sensima’s achieving certain performance goals. Key employees will also be eligible to receive time-based and performance-based restricted stock units in connection with this transaction. A portion of the initial cash consideration payable to the stockholders will be placed into escrow under the terms of the acquisition agreement.