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DLGNF - Why Shares of Adesto Technologies Are Rocketing Higher
Dialog Semicndctr Ord
Shares of Adesto Technologies(NASDAQ: IOTS) soared on Thursday after the company announced that it would be acquired by Dialog Semiconductor PLC(OTC: DLGNF). Adesto stock was up 54.8% at 12:20 p.m. EST, while Dialog stock had edged up 0.6%.
Dialog has agreed to pay $12.55 per share in cash for Adesto, which works out to an enterprise value of about $500 million. Dialog will fund the deal with cash from its balance sheet.