Microchip Completes SMSC Buy

Chandler, Arizona-based semiconductor developer Microchip Technology and fellow semiconductor manufacturer SMSC said this morning that the two have completed the acquisition of SMSC by Microchip. The deal had been originally announced on May 2nd, and was worth approximately $939M. The two said that the completion means that trading of SMSC's stock will cease; the firm was previously listed on the NASDAQ Stock Market.