IDG Capital Partners, a China-focused investment firm, is buying Memsic Inc. (Nasdaq: MEMS), a semiconductor technology company, for about $88.5 million.

The purchase price works out to about $4.23 per share in cash. Memsic’s shares closed at $1.74 on Nov. 20, the last trading day before it announced a proposal.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.