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Microchip To Acquire SST

Chandler, Arizona-based Microchip Technology, a manufacturer of microcontrollers and analog components, is on an acquisition roll, and is buying Silicon Valley firm SST (Silicon Storage Technology). According to SST, Microchip will pay $2.85 per share in cash for the firm, or approximately $284M. SST said that the definitive merger agreement replaces an earlier merger plan that the firm had with Technology Resource Holdings.