Buy-out firm Apax Partners has sold its 14.2 per cent stake in listed company Dialog Semiconductor, a manufacturer of mixed-signal circuits personal mobile, lighting and display and automotive applications.
Apax led the management buy-out of Dialog in 1998.
Dialog is headquartered near Stuttgart with a global sales, R&D and marketing organisation. In 2008, it had more than $160m in revenue and was the fastest growing European public semiconductor company, achieving a growth rate of more than 85 per cent. The company is listed on the Frankfurt stock exchange. Customers with a significant contribution to revenue include Sony-Ericsson, Apple, Bosch and TridonicAtco.
Dialog CEO Dr Jalal Bagherli said, “On behalf of Dialog’s management and its board, I would like to thank Apax Partners for its long standing commitment and support to our company. Apax’s contribution over the past eleven years has been very important to our development and growth. We are pleased with the successful placement of their remaining stake with high calibre institutional investors.”
Last month Apax agreed to buy personal-finance information provider Bankrate Inc for $571m.
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