Subsequent Events

3 Months Ended

Mar. 31, 2012

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

16. SUBSEQUENT EVENTS

On March 15, 2012, the Company signed a definite agreement to acquire a controlling interest in PhaseLink™ Company Limited (“PhaseLink™”), a private company based in Taiwan and in San Jose, California. The objective of the acquisition is to complement Micrel’s high performance clock generation, distribution products for the communication market and expansion of its offerings into the consumer and industrial markets. PhaseLink™ provides high performance integrated timing solutions to system and oscillator manufacturers. On April 2, 2012, the Company acquired the controlling interest in PhaseLink™ for approximately $20 million in cash (excluding cash acquired), qualifying as a business combination. The Company is working on the purchase price allocation, and its consolidated financial statements will include the operating results of PhaseLink™ from the date of acquisition.

On April 26, 2012, the Company’s Board of Directors declared a cash dividend of $0.04 per share of common stock, payable on May 23, 2012 to shareholders of record as of May 9, 2012. This dividend will be recorded in the second quarter of 2012 and is expected to be approximately $2.4 million.