Allegro MicroSystems completed the acquisition of Crocus Technology for $420m.

Allegro MicroSystems, a company in power and sensing semiconductor technology for motion control and energy efficient systems, completed the acquisition of Crocus Technology, an advanced tunnel magnetoresistance sensor technology company, for $420m. "Allegro has invested in TMR technology for the past decade, providing our customers with innovative and high-performing solutions enabling them to design products with optimal performance. We are seeing broader application of TMR technology as the megatrends of electrification and automation accelerate. This highly complementary acquisition aligns perfectly with Allegro's growth initiatives and our focus on e-mobility, clean energy and automation," Vineet Nargolwala, Allegro President and CEO.