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SUBSEQUENT EVENTS
6 Months Ended
Jun. 30, 2014
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS

On July 29, 2014, the Company borrowed $90.0 million under the Facility to assist with the financing for the Newport Media, Inc. ("NMI") acquisition. Interest on the borrowed amounts equals the applicable periodic LIBOR rate, plus 1.25% per annum. The Facility matures on December 6, 2018. 

On July 31, 2014, the Company completed the NMI acquisition. The purchase price was $140.0 million in cash, subject to working capital and other adjustments, plus an additional earn-out of up to $30.0 million to be paid subject to achievement of future revenue thresholds over two years. The acquisition is intended to enhance the Company’s portfolio of wireless products. The Company incurred approximately $2.5 million of investment banking, legal, consulting and other fees and expenses directly related to the acquisition which were recorded as acquisition-related charges on the Condensed Consolidated Statements of Operations. Atmel funded the transaction with cash on hand and borrowings under the existing Facility.