What happened Shares of Adesto Technologies (NASDAQ: IOTS) soared on Thursday after the company announced that it would be acquired by Dialog Semiconductor PLC (OTC: DLGNF). Adesto stock was up 54.8% at 12:20 p.m. EST, while Dialog stock had edged up 0.6%. So what Dialog has agreed to pay $12.55 per share in cash for Adesto, which works out to an enterprise value of about $500 million. Dialog will fund the deal with cash from its balance sheet. Image source: Getty Images. Dialog expects to achieve annual cost synergies of $20 million within the first calendar year following the closing of the deal. The company also expects considerable revenue synergies due to "the complementary nature of the product portfolios and technology." "Together with Dialog, we are positioned to create unique Industrial IoT solutions through the integration of our best-in-class technologies for today's increasingly connected world," said Adesto CEO Narbeh Derhacobian. Now what The transaction is expected to close during the third quarter of 2020, subject to shareholder and regulatory approval. The deal has been approved unanimously by Adesto's board of directors. Since bottoming out in late 2018, the small-cap stock is now up about 130%. 10 stocks we like better than Adesto TechnologiesWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Adesto Technologies wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of December 1, 2019 Timothy Green has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source