Microchip's Sanghi: Why we want Atmel

Bolaji Ojo, EE Times
(10/03/2008 9:35 AM EDT)

Steve Sanghi, Microchip Technology Inc.'s chairman, president and CEO, said in an interview with EETimes that his company is bidding to acquire Atmel Corp. for $2.3 billion in a tie-up with ON Semiconductor Corp. to increase market share, cut costs and improve profitability in the microcontroller business.

Although the bid has turned hostile following Atmel's rejection of Microchip's initial offer, Sanghi insisted he would still like to renew negotiations with Atmel's management. Microchip would consider other options if this effort failed, however, he said. Here are excerpts from the interview:

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