Case Study: Quantum Research Group

Deal size:
$130m
Transaction:
Company Sales
Sector:
Technology
Deal completed:
March 2008
Quantum
About the deal

Meridian advised the shareholders on the disposal of Quantum Research Group Limited (“QRG”) to Nasdaq listed Atmel Corporate Inc. (“Atmel”) for a total consideration of $130m.

Founded in 1996 in a small back bedroom, the company went on to employ 50 people from the head office in Hamble, with a further 7 offices around the world. QRG was recognised as one of the world’s leaders in the exciting field of capacitive sensing. Consumers will be familiar with this ‘touch screen’ technology from electronic interfaces on the iPad and iPhone, mobile phones and other electronic devices and appliances

QRG has an enviable customer base, dealing with clients such as Apple, Sony, GE, Motorola, Nokia and Philips.

Atmel are a manufacturer of microchips for use in a range of consumer electronic applications, but particularly hand held devised. The acquisition of QRG will significantly boost Atmel’s technology base and enable the company to access new customers. There are strong synergies between the two companies as Atmel is one of Quantum’s largest suppliers.

Atmel plan to rapidly expand the workforce in the Hamble office in order to service the rapidly growing customer base and voracious worldwide demand. Current CEO Hal Philipp will be taking the role of Chief Technology Officer.

Hal Philipp of QRG commented, "This is a fantastic deal for the shareholders, staff and customers of QRG. When Atmel approached me, I immediately knew they would be the right partner to help take the business to the next level. I am immensely proud of what we have built and very much look forward to seeing the business and team develop over the next few years. I would particularly like to thank the Meridian team, whose advice and experience were truly magnificent, and without whom this deal would never have initiated or been valued as high as it was. When I think back on the past 3 months, I have to say the orchestration was perfect."

Legal advice to QRG was provided by Sean Wright and Stephen Porter of Shoosmiths LLP.

$130m

Deal value

Quantum 2
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