ICON acts as corporate finance advisers to Oligon, which has been sold to Wolfson Microelectronics Plc
Under the terms of the deal Wolfson is paying up to $5.7 million (£2.9 million) for Oligon. The consideration involved an initial payment of $2.75m (£1.4m) on completion of the deal, with the remainder being deferred subject to the achievement of certain milestones.
The acquisition is in line with Wolfson’s strategy to invest in long term product development and engineering resources in high performance mixed signal semi conductors.
Oligon was co-founded by Richard Laming and Mark Hesketh. Richard also co-founded optoelectronics company Kymata which was sold to Alcatel for in excess of $110million. Mark has extensive product delivery experience with a number of leading SME and Blue chip companies.
“ICON’s market knowledge and support was invaluable throughout the process. I wouldn’t hesitate to recommend them to anyone looking to raise money or sell their business.”
Dr Richard Laming, Co-founder, Oligon