Diodes Inc. said Friday that it will purchase Great Britain-based chipmaker Zetex plc for about $176 million in cash.
Westlake Village-based Diodes said Zetex shareholders will get a 96 percent premium on Thursday’s closing price.
Diodes said it believes the purchase will add to earnings within a year. It added that the deal will complement its own wafer processing and packaging capacity as well as strengthen its European business.
Shares in Diodes were down 1.1 percent to $23.46 in early trading Friday.