Semtech Takes Steps to Buy Electronics Firm

Semtech Corp., a Newbury Park semiconductor maker, said it signed a letter of intent with Lambda Electronics Inc. to purchase the assets of Lambda Semiconductors in Corpus Christi, Tex., and Reynosa, Mexico. Terms were not disclosed, but Semtech said the division had $7 million in sales in the latest fiscal year and has historically operated at a loss.

Semtech said it expects to complete the transaction within 30 days, but that the deal is conditional upon the execution of a definitive agreement.

The Texas facility employs 100 workers and houses the division’s semiconductor testing, engineering and marketing operations. The semiconductors are assembled at the Mexico plant, which has 40 employees.