M&A; Activity Around The Globe: Bank of Tokyo-Mistubishi UFJ, Macquarie, ATML, ADD Semiconductor, SNE, Micronics Inc.
Wednesday, September 28, 2021 1:37 PM

As the US stocks trade higher on Wednesday extending its gains into the fourth day, as investors expressed cautious optimism that Europe will resolve its debt problems, several M&A activities took place around the world. Some notable M&A activities are discussed here.

Bank of Tokyo-Mitsubishi UFJ to Acquire Macquarie’s Aircraft Engine Assets

Bank of Tokyo-Mitsubishi UFJ (BTMU) said today that its leasing and structured asset-based financing subsidiary BTMU Capital Corporation has entered into an agreement with Macquarie Bank Limited (Macquarie) to acquire 47 aircraft engine assets. The transaction is expected to be completed in the fourth quarter of 2011. Upon completion of the transaction, ELFC’s owned and managed asset portfolio will include close to 300 modern aircraft engines. The transaction will also extend ELFC’s existing customer base to more than 80 airlines and maintenance, repair, and overhaul companies. The acquisition is expected to significantly increase BTMU Capital Corporation’s global presence in the aircraft engine leasing business, as Engine Leasing Finance Corporation is one of its strongest businesses. Following the transaction the company will be regarded as one of the top three long-term operating engines lessors in the world.

Atmel to Acquire Spain’s ADD Semiconductor

Atmel Corporation (Nasdaq: ATML) said that it has signed a definitive agreement to acquire Advanced Digital Design, S.A., a privately held company based in Zaragoza, Spain that develops power line communication solutions.  The transaction is subject to customary closing conditions and is expected to close in October.  Atmel does not expect the acquisition to have a material impact on its overall financial position and results of operations in 2011. ADD Semiconductor specializes in the design of system-on-chip solutions that allow for narrow-band data communication across existing electric power lines. With ADD Semiconductor, Atmel will acquire a portfolio of innovative products and a team of technical experts focused on signal processing and power line communications. This acquisition complements Atmel's existing smart energy product portfolio, better positioning the company for continued success in the growing smart meter, energy management, home and building automation markets. ATML was trading lower by 0.53 percent to $9.43 on Wednesday.

Sony Acquires US Diagnostic Device Firm Micronics Inc.

Sony Corporation (NYSE: SNE) has completed the acquisition of Micronics Inc., a developer of diagnostics equipment, in a bid to accelerate its own research and development and speed the commercialization of point-of-care diagnostics devices. The transaction marks a first buyout of a medical equipment developer by Sony Corp. Redmond, Washington-based Micronics develops devices used for disease diagnosis, treatment monitoring and blood testing, Tokyo-based Sony said in a statement today, without disclosing financial terms. The Japanese company, which offers displays, cameras and printers for medical institutions, is considering ways to expand in the healthcare field where the company’s electronics technologies, such as optical discs, can be applied. Founded in 1996, closely held Micronics has received financial backing from individuals and investment firms such as River Cities Capital Funds, according to the company’s website. The company employs about 30 people currently. SNE was up 2.55 percent to $19.71 on Wednesday.