Allegro microsystems completes acquisition of crocus technology to accelerate innovation in tmr sensing technology

-- tunnel magnetoresistance (“tmr”) represents fastest growing technology in magnetic sensing with an estimated 30% cagr through 2030 -- manchester, n.h., oct. 31, 2023 (globe newswire) -- allegro microsystems, inc. (“allegro”) (nasdaq: algm), a global leader in power and sensing semiconductor technology for motion control and energy efficient systems, today announced that it has completed the acquisition of crocus technology, a leader in advanced tmr sensor technology, for $420 million in cash, subject to customary working capital adjustments. this acquisition accelerates allegro's tmr roadmap and strengthens its leading position in the magnetic sensing market.
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