Atheros acquires Intellon in $244 million cash-and-stock transaction

By Lisa Kerner

Charlotte, N.C., Dec. 15 - Atheros Communications, Inc. completed its acquisition of Intellon Corp., it was announced on Tuesday.

As previously reported, Atheros agreed in September to acquire Intellon in a cash-and-stock deal valued at about $244 million, or $181 million net of Intellon's cash, cash equivalents and short-term investments as of June 30.

Intellon shareholders approved the agreement on Friday, and the company's shares have ceased trading on Nasdaq, an Atheros news release said.

Intellon shareholders electing to receive cash or who made no election under the merger agreement received $7.30 per share.

Shareholders electing to receive all stock received $3.33 in cash and approximately 0.145 of a share of Atheros common stock for each share of Intellon common stock.

Those electing to receive a mix of cash and stock received $3.63 in cash and approximately 0.134 of a share of Atheros common stock per Intellon share.

Atheros said it paid $113.6 million in cash in the merger and issued a total of 5,039,561 shares of common stock.

Based in Santa Clara, Calif., Atheros provides semiconductor system solutions for communication integrated circuit products.

Intellon is a fabless semiconductor company located in Orlando, Fla.

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