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Why Shares of Adesto Technologies Are Rocketing Higher

TheMotleyFool

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Why Shares of Adesto Technologies Are Rocketing HigherPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, sunset photo at golden hour, photo by Art Wolfe: https://img.midjourneyapi.xyz/temp/7835e381-fcae-4834-ba93-4708292dc055.png

Shares of Adesto Technologies (NASDAQ: IOTS) soared on Thursday after the company announced that it would be acquired by Dialog Semiconductor PLC (OTC: DLGNF). Adesto stock was up 54.8% at 12:20 p.m. EST, while Dialog stock had edged up 0.6%.

Dialog has agreed to pay $12.55 per share in cash for Adesto, which works out to an enterprise value of about $500 million. Dialog will fund the deal with cash from its balance sheet.

Image source: Getty Images.

Source Fool.com

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