GERMANY - Apax sells remaining stake in listed Dialog Semiconductor

Apax backed an MBO of Dialog in March 1998, and subsequently floated the business on the NASDAQ in October the following year. In 2006, the company decided to de-list from NASDAQ and now trades on the Frankfurt Stock Exchange. At 5pm today German time, the stock was trading at EUR 3.66, giving the company a market cap of approximately EUR 169m.

Dialog Semiconductor plc creates integrated, mixed-signal circuits for personal mobile, lighting and display and automotive applications. Its customers include Sony-Ericsson, Apple, Bosch and TridonicAtco. The company is based in Kirchheim/Teck-Nabern, near Stuttgart, and reported revenues of more than USD 160m. It employs some 300 people. It is listed on the Frankfurt stock exchange.

Investment bank Jeffries arranged and executed the transaction.

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