Status:  Clearance

Acquirer:  Beijing E-Town Chipone Technology Co., Ltd. (China)

Acquired:  Integrated Memory Logic Limited (U.S.)

Value:  Approx. US$144.5 million

Industry:  Semiconductors; Integrated Circuits

On November 2, 2016, Exar Corporation announced that it received clearance from the Committee on Foreign Investment in the United States (CFIUS) concerning the sale of its fabless semiconductor subsidiary, Integrated Memory Logic Limited (“IML”) to Beijing E-Town Chipone Technology Co., Ltd., a Chinese consortium comprised of Beijing-based integrated circuit design and solutions manufacturer Chipone Technology Co., Ltd. and its financial partner Beijing E-Town International Investment & Development Co., Ltd.  (See Exar Corp. Second Quarter Fiscal Year 2017 Earnings Announcement, Prepared Conference Call Remarks, Form 8-K, Ex-99.2, Nov. 2, 2016, SEC Filing.)  The parties closed the transaction on November 9.  (See Exar Corp. Press Release, Exar Completes Divestiture of iML Subsidiary to Beijing E-Town Chipone, Nov. 9, 2016.)