Business

Mass. Movers

MEMSIC sale price is a 56% premium

MEMSIC’s products include accelerometers, such as for automakers, and electronic compass solutions.

Associated Press

MEMSIC’s products include accelerometers, such as for automakers, and electronic compass solutions.

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MEMSIC Inc. said it has agreed to be acquired by IDG-Accel China Capital II LP and two affiliates for $4.225 per share in cash. According to a press release, affiliates of IDG currently hold about 19.5 percent of the Andover company’s outstanding common stock. IDG and its affiliates will acquire all outstanding shares for approximately $88.5 million. The per-share price represents a premium of 56 percent over the company’s closing share price on Monday.

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