Allegro MicroSystems

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Allegro MicroSystems to Acquire Crocus Technology to Accelerate Innovation in TMR Sensing Technology

📅 Date:

🔖 Topics: Acquisition

🏢 Organizations: Allegro MicroSystems, Crocus Technology


Allegro MicroSystems, Inc. (“Allegro”) (Nasdaq: ALGM), a global leader in power and sensing semiconductor technology for motion control and energy efficient systems, today announced that it has signed a definitive agreement to acquire Crocus Technology (“Crocus”) for $420 million in cash.

Crocus is a privately held company and a leader in advanced Tunnel Magnetoresistance (“TMR”) sensor technology. This acquisition brings unique technology and products well suited to serve high-growth applications in e-Mobility, Clean Energy and Automation, supported by more than 200 patents. The magnetic sensing market is expected to increase to over $5 billion by 2030, with TMR representing the fastest growing segment and expected to approach $1 billion in addressable market by 2030. Automotive and Industrial applications are expected to fuel TMR’s estimated 30% CAGR, which significantly exceeds the growth of the overall magnetic sensing market.

Read more at Allegro MicroSystems News Room