IDG Capital has had a relationship with Memsic going back to its December 2007 when the US-based electromechanical system (MEMS) solutions provider raised $60m in its IPO in a transaction that at the time valued the business at $226m.
A China-based corporate venturing unit of publisher International Data Group (IDG) has revised its offer to gain agreement to buy Memsic, a Nasdaq-listed micro electromechanical system (MEMS) solutions provider based in the US.
IDG-Accel China Capital II and its affiliates, MZ Investment Holdings and MZ Investment, will pay $4.225 per share in cash, $88.5m, for Memsic. IDG had originally offered $4 per share on November 21. Its revised bid is a 143% premium over Memsic’s share price of $1.74 just…
