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Crocus Technology Acquired by Allegro MicroSystems

Milpitas, CA., August 8, 2023 – Crocus Technology (“Crocus”), a leader in advanced Tunnel Magnetoresistance (“TMR”) sensor technology, today is announcing that it has signed a definitive agreement to be acquired for $420 million in cash by Allegro MicroSystems, Inc. (“Allegro”) (Nasdaq: ALGM) a global leader in power and sensing semiconductor technology for motion control and energy efficient systems.

Crocus brings to Allegro unique technology and products well suited to serve high-growth applications in e- mobility, clean energy and automation, supported by more than 200 patents. The magnetic sensing market is expected to increase to over $5 billion by 2030, with TMR representing the fastest-growing segment and expected to approach $1 billion in addressable market by 2030. Automotive and industrial applications are expected to fuel TMR’s estimated 30% CAGR, which significantly exceeds the growth of the overall magnetic sensing market.


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