Echelon to Be Acquired by Adesto
On June 29, 2018, Adesto Technologies, a leading provider of innovative application-specific semiconductors for the Internet of Things era, and Echelon, a pioneer in the development of open-standard networking platforms for connecting, monitoring, and controlling devices in commercial and industrial applications, announced that they have entered into a definitive agreement under which Adesto will acquire Echelon for $8.50 per share, representing a total equity value of approximately $45 million and a total enterprise value of about $30 million. Wilson Sonsini Goodrich & Rosati is representing Echelon in the transaction. The firm has enjoyed a long-standing client relationship with Echelon for the past 30 years, having represented the company since shortly after it was formed in 1988, including in its IPO in 1998.
The transaction is expected to close in the third calendar quarter of 2018, subject to customary closing conditions, including approval by Echelon's stockholders.
The WSGR team representing Echelon in the transaction includes:
Employee Benefits and Compensation:
Myra Sutanto Shen
For more information, please see the companies' joint press release.