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Dialog Semiconductor buys US tech firm Silego

U.K.-headquartered Dialog Semiconductor Plc said it is acquiring U.S.-based Silego Technology, Inc. for $276 million, plus up to $30.4 million of contingent consideration.

Silego is a maker of configurable mixed-signal integrated circuits. The deal will allow Dialog to boost its internet of things capabilities.

The deal is set to close by year-end, subject to regulatory approvals. Dialog expects the deal to generate more than $80 million of revenue for 2017.