Atmel Corp., a manufacturer of microcontrollers behind mobile touch-screens, said Tuesday that it has agreed to buy Advanced Digital Design SA, a privately held Spanish developer of chips that let data flow across power lines.
The transaction is subject to customary closing conditions and is expected to close in October.
Atmel said it does not expect the acquisition to have a material impact on its overall financial position and results in 2011.
Advanced Digital Design specializes in integrated chip products that allow for data to flow across power lines. Atmel said the acquisition complements its existing smart energy product portfolio and will better position it for success in the growing smart meter, energy management and home and building automation markets.
Atmel shares rose 10 cents, or 1.1 percent, to close at $9.48 in the regular session Tuesday before the agreement was announced.