Microchip Technology closes $292 million Silicon Storage acquisition

Microchip Tech closes Silicon Storage acquisition

SUNNYVALE, Calif. — Microchip Technology Inc. has closed its acquisition of Silicon Storage Technology Inc., the companies said Thursday.

About 91 percent of Silicon’s shareholders voted in favor of the deal in a shareholder meeting Thursday.

Microchip had offered $3.05 per share in cash, or about $292 million in all.

Shares of Microchip slid 5 cents to $28.41 in after-hours trading.

(This version CORRECTS percentage of sharesholder support to reflect company correction).)