Foley Hoag Represents MEMSIC, Inc. in Proposed Acquisition by IDG-Accel
April 29, 2013
Foley Hoag LLP is representing MEMSIC, Inc., a leading MEMS solution provider, in its proposed acquisition by IDG-Accel China Capital II and its affiliates for $4.225 per share. Pursuant to the merger agreement entered into on April 22, 2013, IDG-Accel, the affiliates of which own 19.5 percent of MEMSIC's outstanding common stock, will purchase the remaining outstanding shares and other equity interests for approximately $88.5 million. The merger agreement is subject to various conditions, and the transaction is expected to close during the third quarter of 2013.
Headquartered in Andover, Massachusetts, MEMSIC, Inc. provides advanced semiconductor sensor and integrated sensing system solutions based on micro electromechanical systems, or MEMS, technology and mixed signal circuit design. Its products include accelerometers, magnetic sensors and electronic compass solutions, integrated high performance inertial measurement units for industrial and avionics applications, MEMS flow sensing systems, and wireless sensing network systems.
The Foley Hoag team was led by Robert Birnbaum, Robert Sweet and John Hancock with support from others at the firm, including Matthew Baltay, Daniel Clevenger, Alex Khalarian and Erin Kravitz.
We use cookies to enhance user experience, improve functionality and performance, and for analysis of website traffic. By clicking “accept”, you agree to the use of cookies. For more information about our cookie policy and the information we collect, please review our Privacy Statement.
Foley Hoag
Email Disclaimer
Transmitting information to us by e-mail unilaterally does not establish an attorney-client relationship or impose an obligation on either the law firm or even the receiving lawyer to keep the transmitted information confidential. By clicking "OK," you acknowledge that we have no obligation to maintain the confidentiality of any information you submit to us unless we already represent you or unless we have agreed to receive limited confidential material/information from you as a prospective client. Thus, if you are not a client or someone we have agreed to consider as a prospective client, information you submit to us by e-mail may be disclosed to others or used against you.
If you would like to discuss becoming a client, please contact one of our attorneys to arrange for a meeting or telephone conference. If you wish to disclose confidential information to a lawyer in the firm before an attorney-client relationship is established, the protections that the law firm will provide to such information from a prospective client should be discussed before such information is submitted. Thank you for your interest in Foley Hoag.
