Standard Microsystems in Acquisition of BridgeCo

Cleary Gottlieb represented Standard Microsystems Corporation, a leading semiconductor company, in the acquisition of BridgeCo, a leader in networked audio technologies. BridgeCo’s JukeBlox technology allows consumers to stream music throughout their entire house wirelessly. In the transaction, SMSC paid an initial payment of $40 million in cash, and agreed to additional earnout payments of up to $27.5 million depending upon BridgeCo’s financial performance in 2011 and 2012. The acquisition closed on May 19.