Silicom to Acquire ADI Engineering for $10M in Cash @Closing

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Silicom Ltd.
SILCSILC
today announced that it has entered into a definitive agreement to acquire ADI Engineering, a privately-held, US-based provider of high performance, high-quality, first-to-market Intel-based products targeted at the SDN, NFV, IoT, Cloud computing and Virtualization trends. Under the terms of the agreement, Silicom will pay ADI's stockholders $10 million in cash at closing, and an additional consideration subject to the attainment of certain future performance milestones. The transaction has been approved by the Boards of Directors of both companies and is subject to customary closing conditions. The transaction is expected to close in the fourth quarter of 2015. Silicom expects the acquisition to be accretive to earnings per share
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