IDG-Accel China Capital II to acquire mobile tech firm MEMSIC
MEMSIC, a NASDAQ-listed micro electromechanical system (MEMS) solutions provider, has agreed to be acquired by IDG-Accel China Capital II and its affiliates for approximately $88.5 million. The vehicle, managed by IDG Capital Partners, invests in consumer tech companies with links to China.
According to a statement, the purchase price of $4.22 apiece for the remaining outstanding stocks represents a premium of 143% over MEMSIC's November 20 close at $1.74 per share, the last trading day...
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