Semtech Corporation has acquired HieFo Corporation for about $34 million in cash, adding indium phosphide optoelectronic devices such as lasers and gain chips used in optical transceivers for data center interconnects. Semtech said it plans to invest and hire at HieFo’s Alhambra, California site to expand domestic manufacturing capacity and accelerate product development, and expects the deal to be accretive to non-GAAP diluted earnings per share within the first year.

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