* Spansion Inc. (NYSE: CODE) and Fujitsu Semiconductor Limited, a wholly owned subsidiary of Fujitsu Limited, announced they have executed a definitive agreement for Spansion to acquire the Microcontroller and Analog Business of Fujitsu Semiconductor for approximately $110 million, plus approximately $65 million for inventory. The net impact is expected to be accretive for Spansion in 2013.
Embedded nonvolatile memory has become one of the most important differentiators within the microcontroller market and addresses customers’ needs for faster and more intelligent devices for a range of embedded applications. Spansion’s Flash technology along with the acquired microcontroller and analog products and talent accelerates a portfolio of high-performance system-on-chip solutions for use in the development of faster, more intelligent and energy-efficient products as well as next generation of the “Internet of everything” in automotive, industrial and consumer applications.
The acquisition is subject to various customary closing conditions and is expected to be complete between July and September of 2013.
* Best Buy (NYSE: BBY) announced Tuesday the sale of its 50% stake in Best Buy Europe to joint venture partner Carphone Warehouse Group plc for EUR 500 million, or approximately $775 million.
* Shutterfly, Inc. (Nasdaq: SFLY) has acquired MyPublisher, one of the pioneers in the photo book industry and creator of easy-to-use photo book-making software. The acquisition will combine MyPublisherâs photo book technology and highly specialized manufacturing capabilities with the Shutterfly platform to deliver a superior customer experience.
* MPLX LP (NYSE: MPLX) announced that it has agreed to acquire an additional 5 percent interest in MPLX Pipe Line Holdings LP from a subsidiary of Marathon Petroleum Corporation (NYSE: MPC) for $100 million. This transaction is expected to close on May 1 and be immediately accretive to distributable cash flow. This represents MPLXâs first acquisition following its initial public offering (IPO) in October 2012.
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