Dear Valued Customer:
We are very pleased to inform you that today Crocus Technology, Inc. (“Crocus”) has signed a definitive agreement to be acquired by Allegro MicroSystems, Inc. (“Allegro”). By combining Crocus’s best-in-class advanced TMR technology with Allegro’s long-standing partnerships with leading Automotive and Industrial OEMs and Tier-1’s, together, we expect to accelerate adoption of TMR in targeted Automotive and Industrial markets.
As always, our customers and sales partners are key to our success, and I wanted to personally reach out and share the news of our planned transaction.
We expect the closing of this transaction to take place by the end of calendar year 2023, subject to customary regulatory approvals and closing conditions.
Until that time, there will be no change in processes or procedures when doing business with either Crocus or Allegro. You should continue to follow the same procedures as before, and you will continue to receive the same level of exceptional support that both companies have aspired to. If you have any questions, do not hesitate to contact your Crocus account manager.
After the closing of the transaction, we will begin communicating to you the various steps involved in the integration process.
We want to reassure our commitment to work with you as a valued partner, and we thank you for your ongoing business, support and trust.
Here is a link to the press release for your reference: https://crocus-technology.com/allegro-microsystems/.
VP, Strategy, Marketing, and Sales