Chip Maker Buys Rival in $939 Million Deal

Microchip Technology Inc. agreed to buy Standard Microsystems Corp. for about $939 million, the latest sign of market forces pushing mid-sized semiconductor makers together.

The chip sector has many specialized vendors, some regularly hit by cyclical swings in the business. Others with ample cash reserves or borrowing power are snapping up smaller players, betting they can quickly make better returns on their money than other investments.

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