Microchip Technology is buying mixed signal semiconductor maker Supertex for approximately $246 million, helping to expand the chipmaker's presence in the medical, lighting and industrial markets.
Microchip Technology Inc. will pay $33 per share in cash, a 35 percent premium to Supertex Inc.'s Friday closing price of $24.38.
Shares of Supertex jumped $8.60, or 35.3 percent, to $32.98 in morning trading Monday.