Thursday, December 31, 2009

Silicon Storage Technology 8K - Going private or still in play?

Link to the original story.

Pursuant to that certain Agreement and Plan of Merger, between and among Silicon Storage Technology, Inc., or SST, Technology Resources Holdings, Inc. and Technology Resources Merger Sub, Inc., dated November 13, 2009, or the Merger Agreement, SST was permitted until 11:59 p.m. California time on December 28, 2009 to engage in a “go-shop” process. As part of the “go-shop” process, the Strategic Committee of SST’s Board of Directors, with the assistance of independent financial and legal advisors, contacted over 140 prospective buyers, several of whom have been designated by the Strategic Committee as an “Excluded Party” as defined in the Merger Agreement. By designating each party as an Excluded Party, SST is permitted to continue discussions with each of these parties with respect to a non-binding indication of interest submitted by such Excluded Party. Technology Resources Holdings, Inc. has notified the Strategic Committee that it disagrees with the designation of such parties as Excluded Parties under the Merger Agreement.

SST has not received any binding offers and has not reached a definitive agreement with any Excluded Party. Investors and shareholders are cautioned that SST may not receive a definitive binding offer, negotiate a definitive agreement or consummate a transaction with any Excluded Party as a result of these discussions. SST does not anticipate making further public disclosure with respect to any Excluded Party unless and until a definitive agreement has been reached or such disclosure is otherwise required by law.

The Merger Agreement is filed as Exhibit 2.1 to our Current Report on Form 8-K, dated November 13, 2009, as filed with the Securities and Exchange Commission, or SEC, on November 13, 2009.

Wednesday, December 30, 2009

Tessera Technologies - 8K ITC Issues Final Notice in DRAM Action

SAN JOSE, Calif. - Dec. 29, 2009 - Tessera Technologies, Inc. (NASDAQ: TSRA) announced today the International Trade Commission (ITC) issued a notice of its final determination in the action brought by Tessera against certain DRAM manufacturers, affirming that Tessera's three asserted patents are valid. The ITC, however, determined among other things that the methodology used by Tessera's expert was insufficient to prove infringement by the respondents of two of the asserted patents. As to the third patent, the notice indicates that infringement was proven as to some but not all of the accused products, but that, due to patent exhaustion, there was no violation of Section 337. The action is Investigation No. 337-TA-630 (DRAM ITC action). Tessera has not yet received the Commission's Final Determination itself and, therefore, does not yet know the details of any reasoning behind the ITC's conclusions.

"Once again, the ITC affirmed the validity of our asserted patents. We are disappointed, however, with the determinations regarding our infringement methodology and patent exhaustion," said Henry R. Nothhaft, president and CEO of Tessera. "We will have an opportunity to appeal this ruling and are already reviewing other avenues open to us to ensure we are fully compensated for use of our technology. We continue to work closely with our licensed customers who are benefitting from their use of our patent portfolio, valuable know-how and trade secrets."

The respondents in the DRAM ITC action include Acer, Inc., Centon Electronics, Inc., Elpida Memory, Inc., Kingston Technology Co., Inc., Nanya Technology Corporation, Powerchip Semiconductor Corp., ProMOS Technologies Inc., Ramaxel Technology Ltd., and Smart Modular Technologies, Inc. Tessera asserted infringement of three Tessera patents, U.S. Patent No. 6,133,627 ('627) , U.S. Patent No. 5,679,977 ('977), and U.S. Patent No. 5,663,106 ('106).

Tuesday, December 15, 2009

Intersil to Acquire Rock Semiconductor

MILPITAS, CA and SHANGHAI, CHINA--(Marketwire - December 15, 2009) - Intersil Corporation (NASDAQ: ISIL), a world leader in the design and manufacture of high-performance analog and mixed-signal semiconductors, today announced that it has signed a definitive agreement to acquire Rock Semiconductor, a privately-held, fabless semiconductor company with technology leadership in highly integrated power management ICs.
Rock Semiconductor provides high-performance analog and mixed-signal integrated circuits for wireless, audio, video and data communications solutions. Rock's products are primarily used in the consumer end market in applications such as cellular phones, personal navigation devices, portable multimedia players and other types of popular consumer electronics products.

"Rock Semiconductor's products are a perfect fit with Intersil's rapidly expanding portfolio of power management, audio and communications ICs," said Dave Bell, Intersil's CEO. "In addition, the acquisition of Rock will immediately give Intersil a greatly expanded presence in the burgeoning local Chinese market."

"We are delighted to join the Intersil team," said Ye Song, General Manager, Rock Semiconductor. "Having access to Intersil's global network of engineering, manufacturing and marketing resources will accelerate our time-to-market for new products and enable the combined companies to penetrate new markets even faster."

Rock has design centers in Shanghai and Wuhan, China. "Intersil is committed to expanding its business through both organic growth and strategic acquisitions," said Dave Bell. "Rock's team of highly experienced analog and mixed-signal design engineers will immediately increase our design capability and ability to serve hundreds of Chinese and global customers."

Monday, December 14, 2009

ON Semiconductor to Acquire California Micro Devices for $4.70 per Share in an All-Cash Tender Offer

PHOENIX & MILPITAS, Calif.--(BUSINESS WIRE)--ON Semiconductor (Nasdaq:ONNN) and California Micro Devices (Nasdaq:CAMD) today announced the signing of a definitive merger agreement pursuant to which ON Semiconductor will acquire California Micro Devices (CMD) through a cash tender offer of $4.70 per share. With net cash, cash equivalents and short-term investments of approximately $45 million at the end of November 2009, the transaction value of CMD represents an enterprise value of approximately $63 million and an equity value of approximately $108 million, based on common stock outstanding and issued. The proposed transaction and related merger agreement have been approved by each company’s board of directors.

“The acquisition of California Micro Devices will significantly strengthen our offering of application specific integrated passive (ASIP) devices to protect products in the wireless, computing and consumer electronics end-markets,” said Keith Jackson, ON Semiconductor president and CEO. “In addition, CMD’s expertise in protection solutions for the high brightness LED (HBLED) market, as well as their strengths in LC-based EMI (electromagnetic interference) filtering and low capacitance ESD (electrostatic discharge) protection, complement our existing portfolio of protection and lighting solutions. With technology and process development expertise in ESD and EMI protection, CMD is highly differentiated in the marketplace – as demonstrated by their strong relationships with leading global customers across multiple large and growing applications. Combined with ON Semiconductor's global sales channel footprint and effective channels of distribution, we expect to be able to support a broader and deeper penetration of CMD’s overall product portfolio with market-leading customers. This should enable us to accelerate revenue growth for CMD’s products and increase market share. We also believe CMD’s products and operations will benefit from ON Semiconductor’s world-class manufacturing capabilities.”

“California Micro Devices becoming a part of ON Semiconductor represents a compelling opportunity for our customers, employees and shareholders,” said Robert Dickinson, president and CEO of CMD. “To compete successfully in today’s global marketplace, size and scale are very important so we are pleased to become part of a leading global company in the semiconductor sector. Combining our leading-edge protection technology with ON Semiconductor’s world-class operational capabilities, supply chain and global customer and channel footprint will enable CMD’s products to better penetrate the mobile, consumer, laptop and lighting end-markets.”

Transaction Details

Under the terms of the agreement, which has been approved by both boards of directors, ON Semiconductor will commence a tender offer no later than December 29, 2009, to purchase all of the outstanding shares of CMD’s common stock for $4.70 in cash. The closing of the tender offer is subject to customary conditions, including the tender of a number of shares that constitutes at least a majority of CMD’s outstanding shares of common stock on a fully diluted basis as further described in the merger agreement. The agreement also provides that the parties effect, subject to the satisfaction or waiver of customary conditions, a merger following the completion of the tender offer, which will result in all shares of CMD common stock not tendered in the tender offer being converted into the right to receive the same $4.70 per share in cash paid in the tender offer. ON Semiconductor will finance the acquisition using existing cash resources and the closing of the transaction is not contingent on the receipt of financing. The companies expect the transaction to close in the first quarter of 2010.

Upon closing, ON Semiconductor may record a one-time charge for purchased in-process research and development expenses and other deal related costs. The amount of that charge, if any, has not yet been determined.

“This acquisition is directly aligned with both our strategic and financial goals,” said Donald Colvin, ON Semiconductor executive vice president and CFO. “The transaction value represents approximately 1.6 times trailing twelve month sales plus cash. We also believe ON Semiconductor’s operational strengths will significantly benefit the revenue and margin potential of CMD. Given the significant synergies we expect to realize from this combination, we anticipate that the acquisition will be accretive to earnings per share within the first year post the transaction close. We intend to provide further details on the acquisition and our fourth quarter 2009 results on our regularly scheduled quarterly earnings conference call in February 2010.”

GCA Savvian Advisors, LLC acted as exclusive financial advisor to ON Semiconductor and is acting as the dealer manager for the Tender Offer. DLA Piper US LLP acted as legal counsel to ON Semiconductor. Pillsbury Winthrop Shaw Pittman LLP acted as legal counsel and Needham & Company LLC provided a fairness opinion to California Micro Devices.

Monday, December 7, 2009

IXYS Announces Acquisition of Zilog

BIEL, Switzerland & SAN JOSE, Calif.--(BUSINESS WIRE)--IXYS Corporation (NASDAQ:IXYS), a market leader in power semiconductors and specialized mixed signal IC products, today announced that it has entered into a definitive agreement to acquire Zilog, Inc. (NASDAQ: ZILG), a trusted supplier of application specific, embedded microcontroller units (MCUs) that are system-on-chip (SoC) solutions for industrial and consumer markets. Under the terms of the agreement, IXYS will acquire all of Zilog’s outstanding common shares for $3.5858 per share in cash, or approximately $62.4 million. The acquisition is subject to the approval of Zilog shareholders and other customary closing conditions. The transaction is expected to be completed during the quarter ended March 31, 2010.

The combination of the two companies with complementing technologies will allow IXYS and Zilog to leverage analog power management with digital control. Zilog has a focused MCU business with technologies that will complement IXYS’ product portfolio. IXYS has a broad based and diversified range of products geared toward industrial, telecommunications, medical, automotive, alternative energy and consumer applications. By introducing MCUs that enable digital power management and embedded control, IXYS will be able to create more cost-effective system integration solutions for its diversified customer base.

IXYS expects to increase its penetration in the automotive electronic and electric market by producing cost-effective integrated product offerings, including the power semiconductors, driver ICs and Zilog MCUs that are essential for automotive controls and driving displays. In IXYS’ prime industrial market, IXYS plans to deploy MCUs that are suited for motor control, power control and automation. In the telecommunications and security industries, Zilog’s MCUs complement IXYS’ ICs, which can be deployed in modems, VOIP, FIOS and automated alarm systems. For the medical market, the Zilog MCU platform complements IXYS’ power and IC products in defibrillators, imaging and diagnostics. Additionally, the recently expanded IXYS products for LED lighting and display, which require digital power control, will benefit in the market from the availability of complementary MCUs. MCU product offerings will be expanded to include low-power and sensing technologies for energy management applications, including smart lighting and intrusion detection.

In addition to expanding market opportunities, the acquisition will allow IXYS and Zilog to pool R&D resources, leverage economies of scale, reduce manufacturing costs and streamline and integrate operational and support costs. Over time, the integration is expected to result in improved financial results for the combined organization.

Monday, November 30, 2009

Broadcom to Acquire Dune Networks

IRVINE, Calif., Nov 30, 2009 -- Broadcom Corporation (Nasdaq: BRCM), a global leader in semiconductors for wired and wireless communications, today announced that it has signed a definitive agreement to acquire Dune Networks, a privately-held company that develops switch fabric solutions for data center networking equipment. Data centers are scaling to provide significantly more bandwidth to meet the requirements of cloud computing, where computing resources, products and services, such as Software as a Service (SaaS), can be delivered real-time over the Internet. Dune Networks has developed a scalable chipset that supports bandwidth speeds of up to 100Gbps per port and can connect more than ten thousand servers (ports) in a single deployment.

"Dune's massively scalable interconnectfabric, combined with our Ethernet products, augments our portfolio of solutions for data center networking equipment," said Martin Lund, Vice President and General Manager, Broadcom's Network Switching line of business. "This technology is particularly well suited to meet the emerging requirements for cloud computing networks at a large scale, and will enable us to address new market applications for Ethernet in the data center."

"Dune Networks' distributed connection fabric is a complement to Broadcom's existing product suite," said Eyal Dagan, Chief Executive Officer, Dune Networks. "Our joint customers will be able to bring to market low cost, high performance data center switching that will enable end users to build next-generation cloud computing networks."

In connection with the acquisition, Broadcom expects to pay approximately $178 million, net of cash assumed from Dune Networks, to acquire all of the outstanding shares of capital stock and other rights of Dune Networks. The purchase price will be paid in cash, except that a portion of such purchase price attributable to unvested employee stock options will be paid in Broadcom restricted stock units. A portion of the cash consideration payable to the stockholders will be placed into escrow pursuant to the terms of the acquisition agreement. Excluding any purchase accounting related adjustments and fair value measurements, Broadcom expects the acquisition of Dune Networks will be neutral to slightly accretive to earnings per share in 2010. The boards of directors of the two companies have approved the merger. The closing, which is expected to occur by the end of Broadcom's first quarter ending March 31, 2010, remains subject to customary closing conditions.

Monday, November 23, 2009

IDT Divests Micro Networks Business

SAN JOSE, Calif.--(BUSINESS WIRE)--IDT® (Integrated Device Technology, Inc.)(NASDAQ:IDTI), a leading provider of essential mixed signal semiconductor solutions that enrich the digital media experience, today announced it has signed an agreement to divest its Micro Networks business to Spectrum Control, Inc. for approximately $13 million. The transaction, which has already received approval by the IDT Board of Directors, is expected to close by the end of November.

“Our Micro Networks business has been a stable business for IDT for many years. However, we continue to sharpen our focus on analog-intensive, mixed-signal solutions for the communications, computing and consumer markets. This divestiture is a great outcome for Micro Networks employees and provides funds for use in faster growing businesses that are better aligned with our strategy,” said Dr. Ted Tewksbury, IDT president and CEO.

Signal Hill acted as advisors for IDT on the transaction.

Wednesday, November 18, 2009

Semtech Announces Definitive Agreement to Acquire Sierra Monolithics, Inc.

CAMARILLO, Calif. & IRVINE, Calif.--(BUSINESS WIRE)--SEMTECH CORPORATION (NASDAQ: SMTC), a leading supplier of analog and mixed-signal semiconductors for high-end consumer, computing, communications and industrial equipment, has entered into a definitive agreement to acquire Sierra Monolithics, Inc. for $180 million in cash. Headquartered in Irvine, California with design centers in Irvine and Redondo Beach, California, Sierra Monolithics provides high performance analog ICs and solutions for a wide array of communications systems and applications. The transaction is expected to be accretive to Semtech’s GAAP earnings per share within twelve months of the transaction closing and is expected to be immediately accretive to Semtech’s Non-GAAP gross margins and Non-GAAP earnings per share.

Sierra Monolithics, Inc. (SMI) was founded in 1986, and has approximately 110 employees including over 60 engineers. SMI has experienced significant growth over the past few years fueled by rapid growth in traffic over both wireline and wireless telecom networks. Market growth drivers for SMI include growing video traffic over the internet, competition between cable operators and telecom carriers, emergence of datacenters, cloud computing, and wireless data services. Over the last five years, SMI has grown revenue at a compound annual growth rate of over 40%.

SMI is the recognized leader in the 40Gbps and 100Gbps SERDES space. Its 40Gbps SERDES product portfolio includes multiple chip sets which address all the major 40Gbps modulation schemes currently being deployed worldwide. These leadership products have enabled SMI to become a key supplier to almost all of the major telecom OEMs and Optical module customers offering 40Gbps solutions. Following up on its success in the 40Gbps SERDES arena, SMI was also the first semiconductor company to provide both client side as well as line side 100Gbps SERDES chip sets for the emerging 100Gbps telecom and datacom markets. In addition, SMI leverages its expertise in high frequency wireless technologies and protocols to deliver wireless solutions for high performance military and wireless networking applications.

Sierra Monolithics expects to generate approximately $50 million of revenue for calendar year 2009 with gross margins towards the high end of Semtech’s stated gross margin model of 55% to 60%. Driven by its growing product portfolio and the rapid growth markets it addresses, Sierra Monolithics expects to continue the rapid growth vector it has been on over the last five years, including revenue growth of approximately 20% to 30% in calendar year 2010.

Sierra Monolithics’ focus on providing leading solutions to the core communications infrastructure and leading edge defense markets enhances Semtech’s value proposition to major customers in these markets. With the acquisition of Sierra Monolithics, Semtech adds an additional, high growth revenue stream to Semtech’s portfolio of growth engines.

Charles Harper and Javed Patel, Sierra Monolithics President and Chief Executive Officer, will both become members of the Semtech Leadership Team reporting to Mohan Maheswaran after the closing of the transaction.

Under terms of the agreement and plan of merger, Semtech will pay the stockholders of Sierra Monolithics $180 million in cash at the closing. In addition, at the closing Semtech will also assume the existing unvested options of Sierra Monolithics’ employees valued at approximately $8 million and at closing will grant to employees additional equity incentives up to $12 million in value. $18 million of the cash consideration will be placed into escrow for twelve months in order to meet any indemnifiable claims pursuant to the terms of the definitive agreement. The transaction will be funded with Semtech’s existing cash reserves. In association with repatriating cash domiciled overseas to fund the transaction, Semtech expects to incur a one-time tax liability of approximately $33 million in Q3 FY10. The closing of the transaction remains subject to closing conditions, including the expiration or termination of the Hart-Scott-Rodino Act waiting period and obtaining other required consents.

Morgan Stanley & Co. Incorporated provided exclusive financial advisory services to Semtech and Paul, Hastings, Janofsky & Walker LLP served as legal counsel for Semtech. Jefferies & Company, Inc. served as financial advisor to Sierra Monolithics and Morrison & Foerster LLP served as legal counsel for Sierra Monolithics.

Friday, November 13, 2009

Silicon Storage Technology to Be Acquired for $2.10 Per Share

SUNNYVALE, Calif., Nov. 13 /PRNewswire-FirstCall/ -- SST (Silicon Storage Technology, Inc.) (Nasdaq: SSTI - News), a memory and non-memory products provider for high-volume applications in the digital consumer, networking, wireless communications and Internet computing markets, today announced that it has entered into a definitive merger agreement to be acquired by Technology Resource Holdings, Inc., a Prophet Equity LP-controlled entity, as well as by members of SST's management team. Prophet Equity LP will acquire all of the outstanding common stock of the company for $2.10 per share, except for shares held by Bing Yeh, SST's Chairman and Chief Executive Officer, and Yaw Wen Hu, SST's Executive Vice President and Chief Operating Officer and member of the Board of Directors, who have agreed to exchange all of their shares of SST common stock for shares of capital stock of the resulting privately held company. This price per share represents approximately a 13 percent premium to the closing price per share of SST's stock on November 12, 2009.

SST's Board of Directors, acting upon the recommendation of a Strategic Committee composed of all of SST's independent directors, approved the agreement and resolved to recommend that the company's shareholders adopt and approve the agreement.

The agreement contains a go-shop provision under which the Strategic Committee, with the assistance of its independent advisors, has the right to solicit proposals or offers with respect to, or that would reasonably be expected to lead to, an acquisition proposal from a third party for a 45 day period beginning on November 13, 2009. SST does not intend to disclose any developments with respect to this solicitation process unless or until the Strategic Committee has made a decision with respect to any proposals or offers it may receive.

"After an extensive review of strategic alternatives with company management and our financial advisors, we determined this all-cash sale of the company with a go-shop provision is in the best interests of the company's shareholders," said Ronald Chwang, chairman of the Strategic Committee.

"We believe that this transaction provides the greatest likelihood of achieving the highest value for the company's shareholders, and that this is also in the best interest of our customers, partners and employees. We believe the added flexibility of being a private company will help us to focus on delivering innovative memory and non-memory solutions to our customers and supporting their needs with the highest levels of service that they have come to expect," said Bing Yeh, co-Founder and Chief Executive Officer of SST.

The transaction, which is expected to close in the second quarter of 2010, is subject to regulatory approvals and approval of the agreement by (i) the holders of a majority of the company's outstanding common stock represented and voting at a special meeting to be held to approve the transaction, excluding Bing Yeh and Yaw Wen Hu, and (ii) the holders of a majority of the company's outstanding common stock, and other customary closing conditions.

Houlihan Lokey is serving as the exclusive financial advisor to the Strategic Committee of the Board of Directors in connection with the transaction.

Shearman & Sterling LLP is serving as legal advisor to the Strategic Committee of the Board of Directors in connection with the transaction.

Cooley Godward Kronish LLP is serving as legal advisor to the company in connection with the transaction.

Jackson Walker LLP is serving as legal advisor to Prophet Equity LP in connection with the transaction.

Tuesday, November 10, 2009

GigOptix, Inc. Announces Acquisition of ChipX

PALO ALTO, Calif.--(BUSINESS WIRE)--GigOptix, Inc. (OTCBB: GGOX), a leading high speed analog semiconductor manufacturer specializing in electronic engines for the optically connected digital world, today announced that the company has signed a definitive agreement, and completed the acquisition of ChipX, Incorporated, a privately-held fabless supplier of analog and mixed signal custom Application Specific Integrated Circuits (ASICs) on November 9, 2009.

It is anticipated that on a consolidated pro-forma, non-GAAP basis, the company, with locations in the U.S., Switzerland and Israel, will have had combined revenues for the first nine months of 2009 of more than $25M. GigOptix and its subsidiaries will also have a work force of approximately 95 employees, down from 115 pre-merger, of which around 40% are in research and development, and approximately 15% are in sales and marketing. As demonstrated in its previous three acquisitions, the company believes it will achieve significant financial efficiencies after consolidation. Prior to the acquisition, GigOptix employees delivered approximately $230K annual revenue per employee, which the company plans to improve to over $300K annual revenue per employee in 2010.

With the acquisition, GigOptix brings high volume silicon design expertise into the company to complement its design excellence in the more specialist semiconductor technologies of III-V, Silicon germanium and of course its unique expertise in Electro-Optic (EO) polymer technology. This will support its strategic move into higher levels of integration of analog and mixed signal system-on-chip products, such as Clock Data Recovery (CDR) and Serializer/De-Serializers (SERDES). Similar to the acquisition of Helix Semiconductors in January 2008, the acquisition supports GigOptix’s plan to efficiently expand its product portfolio into high volume optically connected markets such as consumer electronics, data centers, high performance computing as well as significantly reducing the time and cost of developing new products, customer relationships and vertical markets. The transaction also delivers increased scale with an existing revenue stream from complementary product sales.

The terms of the deal provide for the ChipX investors to receive approximately 3.5 million common shares, representing approximately 26% of the fully diluted share count of GigOptix. As well as the operational benefits, the acquisition is anticipated to have the significant effect of broadening the ownership of the GigOptix common stock with the addition of new strategic and institutional investors. In parallel with closing the acquisition, the company has entered into a new commercial banking relationship with Bridge Bank, N.A. (NASDAQ: BBNK), a full-service professional business bank based in San Jose, California, which will include a $4 million asset-based line of credit.

Thursday, November 5, 2009

ON Semiconductor Acquires PulseCore Semiconductor

ON Semiconductor (Nasdaq: ONNN) today announced the acquisition of PulseCore Semiconductor in an all cash transaction for initial consideration of approximately $17 million. PulseCore is now a wholly owned subsidiary of ON Semiconductor.

“The acquisition of PulseCore expands ON Semiconductor’s high gross margin clock and circuit protection offerings for the consumer, wireless and computing end-market customers,” said Keith Jackson, ON Semiconductor president and CEO. “PulseCore’s capabilities in standard and custom high-speed and low power analog and mixed signal solutions for electromagnetic interference (EMI) reduction also enhance ON Semiconductor’s overall EMI filtering and circuit protection portfolios. In addition, PulseCore’s strong design capabilities and history in India represents ON Semiconductor’s first foray into design activity in that country.”

This acquisition provides current and prospective customers of PulseCore products access to ON Semiconductor’s world-class global manufacturing, sales, and support operations.

PulseCore’s multiple generations of EMI reduction technology — including its standard and custom high-speed and low-power analog and mixed-signal silicon solutions — address the growing problem of EMI compliance issues within high-volume consumer applications. PulseCore’s proprietary spread-spectrum technology has been proven in a range of applications from top-tier consumer electronics OEM’s.

The majority of customers’ daily business interactions with PulseCore Semiconductor, including sales operations, will remain unchanged at this time. In addition, substantially all PulseCore employees will join the ON Semiconductor team.

Monday, November 2, 2009

Intelleflex Adds Development Team and IP, Spun Out from Maxim Integrated Products

Santa Clara, CA, October 28, 2009 -- Intelleflex, the leader in Extended Capability RFID, today announced that they have reached a definitive agreement with Maxim Integrated Products (NASDAQ: MXIM) that will result in the transfer of a Maxim engineering team, a body of design works and related IP to Intelleflex in return for Maxim receiving an equity position in Intelleflex. In addition, Intelleflex and Maxim will partner on certain go-to-market activities in the future.

Intelleflex President and CEO Peter Mehring commented, "This transaction combines the leaders in Class 3 RFID. The added development capacity and complementary design ideas will allow us to accelerate the product road map and build a leading position in the applications and markets for Class 3 RFID technology."

Maxim Division Vice President Chris Neil commented, “The combination of these complementary teams creates a clear leader in this emerging Class 3 RFID technology. The Maxim team is leading the Class 3 world-wide standards definition and development, and the Intelleflex team is the leader in Extended Capability RFID product development. ”

"We saw this spin-out combination as a natural fit that further strengthens Intelleflex's position," added Ketan Patel of New Venture Partners, who recently led a $8M investment round in Intelleflex. "The Maxim team was doing great work on a parallel path with Intelleflex. By joining forces, they'll be able to move further, faster toward an impressive set of new extended capability RFID products for major market impact in 2010 and beyond." New Venture Partners LLC, is a global venture capital firm dedicated to corporate technology spinouts, with over $700 million under management..

In total, seven engineers from Maxim will be joining the team at Intelleflex, and will be based in Dallas, TX and at Intelleflex's headquarters in Santa Clara, CA.

Tuesday, October 13, 2009

Sigma Designs, Inc. to Acquire CopperGate Communications Ltd.

MILPITAS, Calif. & TEL AVIV, Israel--(BUSINESS WIRE)--Sigma Designs®, Inc. (NASDAQ:SIGM) (“Sigma”) and CopperGate Communications Ltd. (“CopperGate”) today announced that the companies have entered into a definitive agreement for Sigma to acquire CopperGate in a cash and stock transaction with an agreed value of $160 million, net of CopperGate’s cash at the closing of the transaction.

CopperGate is a leading provider of silicon-based modem solutions enabling distribution of broadband digital content over all three types of wires in the home: coax, phone and power. CopperGate solutions are deployed by service providers enabling the delivery of HDTV, VoIP and fast Internet services. CopperGate is headquartered in Tel Aviv, Israel with operations in the U.S. and Taiwan.

The combination of Sigma and CopperGate creates a leading provider of networked home entertainment semiconductor solutions. The companies have highly complementary technology platforms that form a portfolio of end to end solutions. The transaction further strengthens Sigma’s position and expands its footprint with key customers, in addition to enabling cross selling opportunities.

The combination of Sigma and CopperGate is also expected to yield several potential synergies including synergies from leveraging manufacturing know-how and combined wafer sourcing, further SoC integration and combined research and development.

The estimated amount of cash to be paid by Sigma on the closing date is approximately $92 million, plus the amount of cash and cash equivalents estimated to be held by CopperGate at the closing, net of CopperGate transaction expenses and debt outstanding at the closing. In addition, Sigma will issue shares of its common stock to CopperGate shareholders estimated at the time of signing to equal approximately 4.0 million shares.

Sigma has also agreed to pay up to an aggregate of $5.0 million in cash to specified CopperGate employees; provided that the eligible employee remains employed by Sigma and certain milestones are achieved. Sigma will also assume unvested stock options held by CopperGate employees that will become exercisable for approximately 0.5 million Sigma shares when vested in accordance with their existing vesting schedules.

The definitive agreement and the acquisition have been approved by the board of directors of each company. The closing of the transaction remains subject to closing conditions, including the approval of the shareholders of CopperGate and Israeli securities law matters. The holders of over 95% of the outstanding capital stock of CopperGate have executed the definitive agreement. Certain significant shareholders have also agreed to vote their shares in favor of the transaction. The transaction is expected to close in 45 to 60 days. UBS Securities LLC is acting as Sigma’s exclusive financial advisor.

Monday, October 12, 2009

Mentor Graphics and Valor Sign Definitive Merger Agreement

WILSONVILLE, Ore. & YAVNE, Israel--(BUSINESS WIRE)--Mentor Graphics Corporation (NASDAQ:MENT) and Valor Computerized Systems, Ltd. (Prime Standard:VCR) announced today that the two companies have signed a definitive merger agreement for Mentor Graphics to acquire Valor.

About the transaction

Under the terms of the agreement, which was approved by the boards of directors of both companies, Valor shareholders will receive a combination of Mentor Graphics common shares and cash for aggregate consideration of approximately $82 million, equating to approximately $4.60 per Valor share. Subject to satisfaction of regulatory requirements and approval of Valor shareholders, as well as certain closing conditions, the transaction is expected to close during the first calendar quarter of 2010, after which Valor will become a wholly-owned subsidiary of Mentor Graphics. Shareholders owning approximately 50 percent of outstanding shares of Valor have committed to vote in favor of the transaction.

NXP Transfers IP and Development Team to Virage Logic

EINDHOVEN, Netherlands & FREMONT, Calif., Oct 12, 2009 (BUSINESS WIRE) -- NXP Semiconductors and Virage Logic Corporation (NASDAQ:VIRL) today announced a strategic agreement that accelerates NXP's move to high performance mixed signal leadership and further broadens Virage Logic's extensive semiconductor IP portfolio. The agreement calls for the transfer of a part of NXP's advanced CMOS intellectual property rights and certain engineering talent and equipment to Virage Logic. This arrangement includes a long-term licensing and IP development relationship between the two companies, enabling NXP to significantly reduce costs without compromising its design capability. Virage Logic will establish an R&D center in Eindhoven providing on-going support to NXP and developing new products based on the acquired advanced CMOS I/O, analog mixed signal and System-on-Chip (SoC) infrastructure IP. These new products, expected to be commercially available in early 2011, further the company's leadership position as the largest independent IP provider to the semiconductor industry.

This strategic alliance underscores the semiconductor industry's continuing trend for companies to focus on their core competencies while outsourcing non-differentiating elements of their business. This trend has enabled semiconductor companies to increase design concentration on development of their unique technical advantages, thus improving both product development cycle time as well as increasing the breadth of new product features. NXP's decision to select Virage Logic as its trusted IP provider is another step in the company's strategic vision to achieve leadership in high performance mixed signal.

Under the terms of the multi-year agreement, NXP will transfer over 160 employees and the assets associated with selected advanced CMOS libraries, IP blocks and SoC architecture along with other classes of semiconductor IP, including approximately 25 associated patent families. In consideration for the assets, NXP will receive 2.5 million shares of Virage Logic common stock, which will be subject to transfer restrictions, and a share of the future revenue generated by Virage Logic from licensing the transferred IP portfolio. In addition, Virage Logic will provide to NXP services surrounding the transferred IP for a 3.5-year period, and NXP will receive a 3.5 year license to Virage Logic's extensive standard-products semiconductor IP portfolio for all future SoC designs. In consideration for the services and the license of the Virage Logic IP portfolio, NXP will pay Virage Logic $60 million over four years from the closing of the transaction. The companies are targeting a closing in Q4 of this year, pending consultations with employee representatives. The transaction is expected to be accretive in Virage Logic's fourth fiscal quarter of 2010.

Tuesday, October 6, 2009

OPTi 8K - OPTi and VIA Technologies, Inc. Reach Settlement Agreement in Patent Infringement Action

OPTi Inc (OTCBB:OPTI) today announced that it has entered into a Settlement and License Agreement with VIA Technologies, Inc. (“ VIA ”). The agreement dismisses the lawsuit that the Company filed against VIA in the Eastern District of Texas.

On July 3, 2007, the Company announced that it filed a complaint against VIA in the United Stated District Court for the Eastern District of Texas, for infringement of two U.S. patents. The patents at issue in the lawsuit are U.S. patent No. 5,944,807 and U.S. patent No. 6,098,141, both entitled “Compact ISA-Bus Interface.” The complaint alleged that VIA infringes the patents by making, selling, and offering for sale products based on and incorporating the Low Pin Count Interface Specification and inducing and contributing to the infringement of the patents by others.

In exchange for the Company agreeing to dismiss its lawsuit against VIA with prejudice, VIA has agreed to make two payments, totaling $650,000, to OPTi. Winston & Strawn lawyers Michael L. Brody, Taras A. Gracey and Ethan McComb and McKool Smith lawyers Sam Baxter, Kristi Thomas and Jason Cassady represent OPTi. OPTi has settled with seven of the eight defendants in the lawsuit. Its case against Advanced Micro Devices on the Compact ISA-Bus Interface patents remains, with jury selection to occur in August 2010.

Monday, October 5, 2009

Trident Microsystems 8K - Trident Microsystems and NXP to Combine Digital TV and Set-Top Box Businesses

Trident Microsystems, Inc. (NASDAQ: TRID) and NXP Semiconductors today announced that they have signed a definitive agreement whereby Trident will acquire NXP’s television systems and set-top box business lines. Trident would remain fabless with a significant presence in Asia and as a result of the transaction would have a global leadership position in the digital home entertainment market. Under the terms of the transaction, NXP will receive newly issued shares of Trident common stock equal to 60% of the total shares outstanding post-closing, including approximately 6.7 million shares that NXP will purchase at a price of $4.50 per share, resulting in cash proceeds to Trident of $30 million.

“As the fragmented consumer IC market continues to consolidate, the ability to leverage IP across multiple segments is becoming increasingly important due to the R&D investments necessary to deliver leading-edge innovation,” said Sylvia Summers, President and CEO of Trident. “Through this transaction, Trident will become one of the leading global suppliers with the product portfolio, IP and operational infrastructure required to effectively serve the large, high-growth digital home entertainment market.”

Including revenue from the acquired product lines, Trident would have estimated revenue of approximately $500 million in calendar 2009, with approximately 60% attributable to television and 40% to set-top box. Upon closing, Trident will have an extensive portfolio of consumer IP applicable to a range of markets, with over 2,000 granted and in-process patents including motion estimation/motion compensation and conditional access, as well as advanced 45nm SoC technology. The combined product portfolio will enable Trident to offer a broad range of semiconductor solutions to the digital home market, which Trident estimates will reach $5 billion by 2010.

“Success in the consumer business requires a company culture based on rapid decision making, a fast pace of innovation, and a highly competitive cost structure,” stated Summers. “This proposed transaction enables Trident to achieve the economies of scale required to compete in the digital home market, while also taking advantage of our start-up culture and cost-efficient Asia-based engineering and operations. As a result, Trident will be well positioned to address a larger market, accelerate our time to breakeven and achieve our long-term financial objectives.”

In order to drive cost-efficient innovation that is competitive with the industry’s most aggressive consumer IC suppliers, Trident expects to retain a core set of technology centers of excellence in Europe and North America, while growing and leveraging the substantial engineering presence that each of NXP’s Home business unit and Trident already has in Asia. Following the close of the transaction, Trident intends to continue supporting the existing customers and design wins of each company. In addition, Trident plans to develop a converged product roadmap, leveraging the substantial IP of both companies and cost structure of Trident to provide the competitive products required for the next generation of customer designs.

“We believe the consumer IC business is a large, high-growth opportunity, best served by a company dedicated to this market with a highly efficient operating infrastructure,” said Rick Clemmer, President and CEO of NXP. “This proposed combination is the ideal structure to position the considerable technology and market assets of our digital TV and set-top box lines for growth and financial success. As the single largest shareholder in the expanded Trident, NXP can continue to take part in the significant upside opportunity for this business while achieving another major milestone in NXP’s plans to focus and lead in high-performance mixed signal.”
Reaffirming its long-term commitment to the digital home technology market, under the terms of the transaction, the primary shares being issued to NXP would be subject to a lock-up for two years.

Upon closing, Sylvia Summers will remain the CEO of Trident and Christos Lagomichos, EVP of NXP’s Home business unit, will become President. Pete Mangan will remain senior vice president and chief financial officer of Trident. In addition, after closing, NXP and Trident intend to cooperate in the development of complementary end-to-end solutions in other selected high-growth technology areas, including NXP’s car entertainment and silicon tuner product lines. Trident will be fabless and will have the ability to access state-of-the-art technology and manufacturing capacity from NXP’s manufacturing facilities, as well as the partner foundries and subcontractors of both companies. As a result of the terms and conditions agreed between the parties, NXP will account for its investment in Trident under the equity method.

The Boards of Trident and NXP have unanimously approved the agreement and the transactions contemplated by the agreement. The transaction is subject to the approval of the stockholders of Trident, consultations with employee representatives in certain jurisdictions and other customary closing conditions, including regulatory approvals. The transaction is expected to close in the first calendar quarter of 2010.

Trident expects to generate $140 million to $160 million in revenue in the calendar quarter ending June 30, 2010, its first full quarter post-closing, and expects to break even on a non-GAAP operating basis as early as the end of calendar year 2010.

Friday, October 2, 2009

Linear wins ITC Consent Order against Advanced Analogic

MILPITAS, Calif.--(BUSINESS WIRE)--Linear Technology Corporation (Nasdaq:LLTC), a leading supplier of high-performance analog integrated circuits, today announced that the judge issued a consent order against Advanced Analogic Technologies, Inc. (AATI) in Linear’s enforcement proceeding at the U.S. International Trade Commission (ITC). The ITC previously found that AATI violated Section 337 of the Tariff Act by importing voltage regulator chips that infringe claims 2, 3, and 34 of Linear’s U.S. Patent No. 6,580, 258 (‘258 patent). These patent claims protect Linear’s “sleep mode” invention, comprising circuitry that significantly extends battery life for a wide range of portable electronic devices by allowing the device to “sleep” when little power is needed. Specifically, the ITC determined that AATI’s infringing products include AAT1143, AAT1123, AAT1125, AAT1126, AAT2500, AAT2506, AAT2510, AAT2511, and AAT2512. The Commission then issued an exclusion order barring importation of the named semiconductor products and any other AATI chips that infringe Linear’s patent claims.

Thereafter, Linear and AATI cross-appealed the ITC’s decision and the Court of Appeals for the Federal Circuit issued its opinion on May 21, 2009. The Federal Circuit affirmed the ITC’s decision that the AATI 1143 family of products infringe the Linear patent and that claims 2, 3, and 34 are valid and enforceable. Further, the Federal Circuit determined that the AATI 1146 family (an additional 15 AATI products) also infringe the Linear patent and are subject to the exclusion order. The Federal Circuit also vacated the Commission’s non-infringement finding regarding the three remaining products at issue—the AAT1151, AAT1156, and AAT1265 (now subject to the consent order).

The ITC also instituted, at Linear’s request, an enforcement proceeding (currently scheduled for early 2010) to determine whether AATI has violated the exclusion order. AATI has since agreed to a limited exclusion order which the judge presiding over the enforcement proceeding has entered by a consent order on September 9, 2009.

Volterra 8K - Wins injunction against Infineon

FREMONT, Calif., October 1, 2009 — Volterra Semiconductor Corporation (Nasdaq: VLTR), a leading provider of high-performance analog and mixed-signal power management semiconductors, today announced that at a September 30, 2009 hearing, the U.S. District Court granted Volterra’s motion for a preliminary injunction against Infineon Technologies AG, Infineon Technologies North America Corporation and Primarion Inc. (Infineon/Primarion) in a patent infringement lawsuit.

“We are very pleased that the Court granted our motion for a preliminary injunction against Infineon/Primarion,” said Jeff Staszak, Volterra’s President and Chief Executive Officer. “We believe this ruling signals the likelihood of success on the merits of our case against Infineon/Primarion, and validates the strength of our intellectual property position. We will continue to aggressively protect our patent and other intellectual property rights.”

About the Case

Volterra filed a lawsuit against Infineon/Primarion in November 2008 claiming, among other things, that Infineon/Primarion’s PX4640 and PX4650 integrated power products infringe certain Volterra patents. In December 2008, Infineon/Primarion filed certain counterclaims in response to the lawsuit. In July 2009, Volterra filed a motion for preliminary injunction, seeking to stop Infineon/Primarion from marketing or selling these products, on the grounds that they infringe Volterra patents.

The specific terms of the injunction and the Court’s reasoning for its ruling will be provided in a more detailed Court order which is expected to soon be issued.

In addition to the motion for preliminary injunction, Volterra had also filed a motion for partial summary judgment for infringement. Although the Court did not grant this motion at this time, Volterra will have the ability to pursue this motion again at a future date.

Friday, September 18, 2009

Leadis Technology Announces Approval of Plan of Dissolution

SUNNYVALE, CA--(Marketwire - September 18, 2009) - Leadis Technology, Inc. (NASDAQ: LDIS) today announced that its Board of Directors (the "Board") has determined, after consideration of potential strategic alternatives, that it is in the best interests of the Company and its stockholders to liquidate the Company's assets and to dissolve the Company. In connection with this determination, the Company's Board has unanimously approved a Plan of Dissolution of the Company (the "Plan of Dissolution") subject to stockholder approval. The Company intends to hold a special meeting of the stockholders to seek approval of the Plan of Dissolution and intends to file a proxy statement with the Securities and Exchange Commission expeditiously.

The Plan of Dissolution contemplates an orderly wind down of the Company's business and operations. If the Company's stockholders approve the Plan of Dissolution, the Company intends to file a certificate of dissolution, satisfy or resolve its remaining liabilities and obligations, including contingent liabilities and costs associated with the liquidation and dissolution, make reasonable provisions for unknown claims and liabilities, and make distributions to its stockholders of cash available for distribution, subject to applicable legal requirements. Following stockholder approval of the Plan of Dissolution and the filing of the certificate of dissolution, the Company plans to delist its common stock from the NASDAQ Global Market.

The Company has analyzed its liquidation value and currently estimates that the aggregate amount of liquidating distributions to stockholders will range from $0.93 to $1.20 per share. The total amount of these distributions, however, may vary substantially from this estimate based on a number of factors, including the resolution of outstanding known and contingent liabilities, the possible assertion of claims that are currently unknown to the Company and costs incurred to wind down the Company's business. As a result, stockholders may receive substantially less than the current estimates.

The Company also today announced that it received a deficiency notice from The NASDAQ Stock Market on September 15, 2009. The notice, in accordance with NASDAQ Marketplace Rule 4450(a)(5) "Minimum Bid Price Requirement," states that the Company's common stock has closed below $1.00 per share for 30 consecutive business days. In accordance with Marketplace Rule 4450(e)(2), the Company has 180 days to comply with the minimum $1.00 per share bid price requirement. The Company's common stock must meet or exceed the $1.00 share price for 10 consecutive business days before March 15, 2010 or it could be subject to delisting from the NASDAQ Global Market. This notification has no effect on the listing of the Company's common stock at this time.

Tuesday, September 15, 2009

SMSC Announces Close of Tallika Corporation Acquisition

HAUPPAUGE, N.Y.--(BUSINESS WIRE)--SMSC (NASDAQ: SMSC), a leading semiconductor company providing Smart Mixed-Signal Connectivity™ solutions, today announced that its acquisition of Tallika Corporation (Tallika) closed on September 8, 2009. Tallika’s team of approximately 50 highly skilled engineers are located in design centers in Chennai, India and Phoenix, Arizona. This team brings to SMSC a broad set of capabilities, including SoC design and software development. Under terms of the acquisition, SMSC paid approximately $3.4 million.

Tallika is expected to play a significant role in accelerating SMSC’s product roadmaps, including USB 3.0, and brings a breadth of expertise in a mix of engineering disciplines including hardware, software, systems, digital design and verification/validation.

Tuesday, September 8, 2009

Atheros to Acquire Intellon

SANTA CLARA, CA and ORLANDO, FL--(Marketwire - September 8, 2009) - Atheros Communications, Inc. (NASDAQ: ATHR) and Intellon Corporation (NASDAQ: ITLN) today announced that the companies have entered into a definitive agreement for Atheros to acquire Intellon in a stock and cash transaction valued at approximately $244 million, or $181 million net of Intellon's cash, cash equivalents and short-term investments as of June 30, 2009.
The acquisition of Intellon is another significant step by Atheros toward its goal of enabling the very best connectivity experiences across the networking, computing and mobile device markets. Intellon's powerline communications (PLC) technology operates on today's most pervasive wired medium, the home power circuit. By combining Atheros' best-in-class wireless LAN and Ethernet products with Intellon's market-leading PLC products, Atheros will further drive the adoption of universal, easy-to-use, networking solutions throughout the digital home.
"We are deeply committed to providing our customers with innovative communications solutions based on our expanding portfolio of technologies, and the addition of Intellon's market-leading PLC products further demonstrates that commitment," said Craig Barratt, president and chief executive officer of Atheros Communications. "Our unmatched combination of connectivity technologies will enable dynamic meshing of wireless and wired bandwidth, providing robust transmission of data, voice and multi-media content on the growing number of networked devices in the home."

As the leading provider of HomePlug® compatible products, Intellon's extensive experience in delivering PLC solutions has enabled it to build a strong portfolio of products and intellectual property. By leveraging the Intellon team's experience, Atheros will further expand its ability to serve the needs of the digitally-connected consumer, as well as extend its opportunities for growth in new applications and markets, including Ethernet-over-Coax and smart grid solutions.
"Having played a major role in the development and commercialization of PLC technology across the globe, and with more than 40 million chipsets shipped and 50 service provider deployments, the Intellon team is excited about the opportunity to combine its knowledge and expertise in wired networking with Atheros' leadership in wireless LAN and other network communications," said Charles E. Harris, Intellon's chief executive officer and chairman of the board. "With the cultures of innovation and commitment to customer success that both companies share, this powerful combination will bring a new level of seamless connectivity to operators and consumers alike."

Pursuant to the terms of the definitive agreement, the overall acquisition consideration consists of an amount of Atheros common stock and equivalents (including the assumption of outstanding Intellon restricted stock units and stock options) representing between 45 and 55 percent of the total consideration with the remainder paid in cash, providing an overall value of $7.30 per share based on the five-day average closing price of Atheros as of September 4, 2009. Intellon shareholders may elect to receive either: 1) approximately 0.135 shares of Atheros common stock and approximately $3.60 in cash, 2) $7.30 in cash, or 3) approximately 0.267 shares of Atheros common stock, for each share of Intellon common stock; however, each of these elections will be subject to adjustment and proration provisions (as further detailed in the definitive agreement). In the aggregate, Atheros expects to issue approximately 4.2 - 5.1 million shares of Atheros common stock and equivalents and pay approximately $115 - $141 million in cash, depending on the overall elections that are made and pursuant to the terms in the definitive agreement.

Atheros expects to close the transaction in the fourth quarter of 2009, subject to Intellon shareholder approval as well as customary closing conditions and regulatory approvals. Intellon shareholders representing approximately 22% percent of Intellon's outstanding common stock have signed an agreement to vote their shares in favor of this transaction. It is anticipated that the transaction will be accretive to Atheros' non-GAAP earnings per share in the first half of 2010.

Monday, September 7, 2009

ATIC Makes Bid to Acquire Chartered

SINGAPORE--(BUSINESS WIRE)--Advanced Technology Investment Company LLC (ATIC) of Abu Dhabi and Chartered Semiconductor Manufacturing (Chartered) of Singapore today announced a definitive agreement whereby ATIC would acquire Chartered, one of the world’s top dedicated semiconductor foundries.

Offer Details:
The proposed acquisition will be effected by way of a scheme of arrangement under section 210 of the Companies Act of Singapore, subject to the approval of Chartered shareholders and the sanction of the High Court of Singapore. The transaction is expected to close during the fourth quarter of 2009. Completion of the transaction will be subject to customary conditions, such as regulatory and shareholder approvals. Details can be found in the joint scheme announcement that has been filed with the Singapore Exchange Securities Trading Limited (SGX), as well as in the scheme document to be sent to Chartered shareholders.

Under this scheme of arrangement, each Chartered ordinary share will be acquired by ATIC for a cash consideration of S$2.68 per share. The transaction represents an equity value of approximately S$2.5 billion (US$1.8 billion) and a total value of approximately S$5.6 billion (US$3.9 billion), including debt and convertible redeemable preference shares of approximately S$3.1 billion (US$2.2 billion) as of June 30, 2009. The price represents a premium of 14.2 percent to its 30 trading-day volume weighted average price, 26.8 percent to its 90 trading-day volume weighted average price and 44.2 percent to its 6-month volume weighted average price on the SGX. The estimated amount of consideration for each American Depositary Share ("ADSs") is US$18.641. The actual amount per ADS that ADS holders will receive will depend on the applicable prevailing exchange rate, less the amount of applicable ADS depositary's fees, taxes and expenses.

ATIC is a technology investment company wholly owned by the government of Abu Dhabi. This acquisition is its second major investment in the semiconductor industry and follows the company’s March 2009 creation of GLOBALFOUNDRIES, a U.S.-headquartered, leading-edge semiconductor manufacturing company and a joint venture with AMD. The acquisition of Chartered will be made through ATIC International Investment Company LLC, a subsidiary of ATIC. Once the transaction is completed, ATIC will be the sole owner of Chartered.

The transaction will allow ATIC to build on the complementary platforms of Chartered and GLOBALFOUNDRIES, with Chartered’s customer relationships and capabilities in both 8-inch and 12-inch fabrication, and GLOBALFOUNDRIES’ advanced technology expertise, capacity profile and global footprint. “We believe that by having access to ATIC’s long-term capital and related assets, Chartered has an opportunity to bring its skills, capabilities and leadership to the next level,” said Waleed Al Mokarrab, Chairman of ATIC. “By acquiring Chartered, ATIC is expanding its investments in the semiconductor industry which currently consist of a GLOBALFOUNDRIES leading facility in Dresden, Germany and a new, state-of-the-art facility under construction in upstate New York.”

Pending appropriate board approvals, Doug Grose, chief executive officer of GLOBALFOUNDRIES, would serve as CEO of the combined operations, with Chia Song Hwee, CEO of Chartered, serving as chief operating officer. Chia will also spearhead the integration effort. “Chartered’s board of directors recognizes the efforts of the management team and employees on the considerable progress they have made,” said Jim Norling, chairman of the board of directors at Chartered. “Given the importance of scale and the need for substantial, continued capital investment, and having carefully assessed all strategic options available to Chartered, we believe this transaction provides Chartered shareholders the opportunity to realize their investment. In addition, it enables Chartered to accelerate its goal of becoming a leading player in the semiconductor industry. We have today appointed Deutsche Bank AG, Singapore Branch as an independent financial advisor to advise shareholders on the fairness of the offer, and we will submit the proposal for a shareholder vote.”

Morgan Stanley Asia (Singapore) Pte. and Citigroup Global Markets Singapore Pte. Ltd. serve as joint financial advisors to Chartered, and each provided a fairness opinion to the board of directors of Chartered in connection with the transaction. Temasek Holdings, which currently owns approximately 62 percent of Chartered’s shares, also fully supports the acquisition and has signed an irrevocable undertaking to vote in support of the transaction. “Chartered and GLOBALFOUNDRIES will be able to draw on each other’s strengths to enable the next generation of semiconductor innovation, utilizing the value of both companies and the intellectual capital of thousands of skilled employees,” said Ibrahim Ajami, CEO of ATIC. “Chartered and GLOBALFOUNDRIES are well positioned to meet the growing chip demand to come from billions of new mobile phones, cars, televisions, computers and other devices.”

Thursday, September 3, 2009

TriQuint Acquires TriAccess Technologies

HILLSBORO, Ore. & SANTA ROSA, Calif.--(BUSINESS WIRE)--TriQuint Semiconductor, Inc (NASDAQ: TQNT), a leading RF front-end product manufacturer and foundry services provider, announced its acquisition of TriAccess Technologies, a leading provider of Cable TV (CATV) and Fiber-to-the-Premise (FTTP) integrated circuits for the amplification of high-quality multimedia content, effective today. Previously, TriQuint served as TriAccess’ foundry supplier.

Terms of the acquisition were not disclosed. TriAccess’ results are not expected to materially impact TriQuint’s net income. In conjunction with this transaction, the Board of Directors has approved issuance of 170,300 stock options to ten former TriAccess employees under TriQuint’s 2008 Inducement Award Program. The stock option grants are effective September 3, 2009. A majority of TriQuint’s independent directors approved the grant of the stock options in accordance with NASDAQ Listing Standard 5635(c)(4). The stock options granted as part of the award program have a 10-year life, vest 25% twelve months from the date of grant, with the remaining 75% of the option vesting in equal quarterly installments of 6.25% over the next twelve quarters. They have an exercise price of $7.54, which is the closing price of TriQuint’s common stock on September 3, 2009. The options expire on September 3, 2019.

Monday, August 31, 2009

Vimicro 6K - To acquire Video Surveillance business from Alcatel-Lucent

BEIJING – August 28, 2009 – Vimicro International Corporation (NASDAQ: VIMC), a leading multimedia semiconductor and solution provider, today announced that Vimicro Electronics Corporation, a joint venture company operated and managed by Vimicro, entered into a definitive agreement to acquire Video Surveillance System (“ViSS”) from Alcatel-Lucent Shanghai Bell Ltd. Co. (“ASB”). Vimicro Tianjin will acquire the complete ViSS business including all property, plant and equipment, inventories, business contracts, intellectual property and service and development capabilities in China. Moreover, Vimicro and ASB will continue the cooperation on solution and marketing developments in the future.

ViSS is a leading security and surveillance solution addressing the needs of telecom operators and local governments in China. As part of ASB, ViSS has been well established as the business platform for unified surveillance, storage and management solutions utilizing a broadband network infrastructure to connect independent monitoring sites across a broad geographical area. This platform can meet the monitoring needs of city roadways, airports, shopping centers, banks, schools, and other large facilities where surveillance is vital. ViSS also provides system management tools that enhance the visual and audio monitoring capabilities of multiple sites over telecommunication networks. It has been one of the most stable carrier-class video surveillance platforms available in the industry.

Vimicro Tianjin, jointly founded by Tianjin government and Vimicro, has a long-term strategic plan to further penetrate the surveillance market. As part of this acquisition, Vimicro Tianjin also gained the use of its brand name for a certain period as well as strong R&D team with deep industry experience.

The acquisition is expected to be closed in September of 2009 as agreed by both parties. The closing of the transaction is subject to customary closing conditions.

Tessera 8K - ITC finds DRAM patents valid, but not infringed

SAN JOSE, Calif. - Aug. 28, 2009 - Tessera Technologies, Inc. (NASDAQ: TSRA) announced today the Administrative Law Judge (ALJ) in the International Trade Commission (ITC) action brought by Tessera against certain DRAM manufacturers issued an Initial Determination finding Tessera's asserted patents are valid, but not infringed by the respondents. The action is Investigation No. 337-TA-630 (DRAM ITC action).

The ALJ's decision, termed an "Initial Determination," is subject to review by the full Commission. Within 120 days of the issued Initial Determination, the Commission can affirm, modify or reverse the ALJ's decision in developing the ITC's final determination.

"We intend to once again seek review of the Initial Determination by the full Commission," said Henry R. Nothhaft, president and CEO of Tessera. "The Commission previously agreed in our Wireless ITC Action that our technology was valid and that we had proven infringement at trial. We hope that it will again reverse the ALJ's Initial Determination. Furthermore, we have not taken into account any revenue based on the outcome of this ITC action in preparing our financial guidance. We remain focused on developing innovative technologies and are confident in the future of our business."

The respondents in the DRAM ITC action include Acer, Inc., Centon Electronics, Inc., Elpida Memory, Inc., Kingston Technology Co., Inc., Nanya Technology Corporation, Powerchip Semiconductor Corp., ProMOS Technologies Inc., Ramaxel Technology Ltd., Smart Modular Technologies, Inc., and TwinMOS Technologies, Inc. Tessera is asserting infringement of three Tessera patents, U.S. Patent No. 5,663,106 ('106), U.S. Patent No. 6,133,627 ('627) , and U.S. Patent No. 5,679,977 ('977) and is seeking, among other things, an exclusion order barring importation of infringing products that incorporate the patented technology.

Saturday, August 29, 2009

GSI Technology Acquires SRAM Product Line from Sony Electronics

SANTA CLARA, Calif.--(BUSINESS WIRE)--GSI Technology, Inc. (Nasdaq:GSIT), a leading provider of high- performance static random access memory, or SRAM, products incorporated primarily in networking and telecommunications equipment, today announced that it has signed and closed definitive agreements with Sony Electronics Inc. under which GSI acquired substantially all of the assets related to Sony’s SRAM product line. At closing, GSI paid Sony approximately $5.2 million in cash. GSI will make a further cash payment to Sony of approximately $1.7 million following a post-closing adjustment to reflect actual product inventory on hand at closing. GSI will also make future cash payments based on the sale of certain acquired SRAM products over an eight quarter period. The acquisition will be accounted for under the purchase method of accounting.

The acquisition will not have a significant impact on GSI’s total revenues or, except for adjustments required by purchase accounting rules, on its operating results for the second fiscal quarter ending September 30, 2009. Based on historical sales data and current sales projections, GSI believes that the new product line will generate additional revenues of approximately $1 million in the third quarter ending December 31, 2009 and expects that the new product line should generate quarterly revenues of approximately $2 million by the quarter ending September 30, 2010. GSI also expects that, after a transition period of one to two quarters, gross profit margins comparable to GSI’s overall gross margins will be achieved.

Monday, August 24, 2009

Xpoint Technologies, Inc. files suit against a mutitude of companies for infringement of data transfer patent

Claiming infringement their US Patent No. 5,913,028, entitled “Client/Server Data Traffic Delivery System and Method, Xpoint Technologies, Inc. has filed suit against Microsoft Corporation, Intel Corporation, Marvell Technology Group, Ltd., Marvell Semiconductor, Inc., Hewlett-Packard Company, Cypress Semiconductor Corp., QuickLogic Corporation, Qualcomm, Inc., Freescale Semiconductor Holdings I, Ltd., Freescale Semiconductor, Inc. (“Freescale Semiconductor”), Texas Instruments, Inc., Google Inc., T-Mobile USA, Inc., HTC Corporation, HTC America, Inc., Apple Inc., Sony Corporation, Telefonaktiebolaget LM Ericsson, Sony Ericsson Mobile Communications AB, Sony Ericsson Mobile Communications (USA), Inc., Philips Electronics, N.V., Philips Electronics North America Corporation, LG Electronics, Inc., LG Electronics USA, Inc., Research in Motion, Ltd., Research in Motion Corporation, Motorola, Inc., Nokia Corporation, Nokia Inc., Palm, Inc., Nvidia Corporation , Advanced Micro Devices, Inc., Dell Corporation, AT&T Inc., AT&T Mobility LLC, Verizon Communications, Inc., Cellco Partnership (“Cellco”), and Sprint Nextel Corporation.

Xpoint claims, "the ‘028 Patent invention provides significantly enhanced functionality for a variety of types of electronic devices, including without limitation cell phones, personal media players, personal computers, global positioning system (“GPS”) devices, and the like (generically, “data-processing devices”). One example of such enhanced functionality is “sideloading.” Certain cell-phone and personal media players manufactured and sold by certain Defendants use the ‘028 Patent technology to facilitate sideloading, which permits the transfer of information directly from one local device, typically a universal serial bus (“USB”) network I/O device connected to a personal computer, across a bus to the I/O of another local device such as a storage I/O device of a cell phone or personal media player, bypassing the CPU and central memory. In another example of increased functionality, the ‘028 Patent technology is infringed by processors and chipsets for computers, cell phones, and smart phones manufactured and sold by certain Defendants that use “northbridge-southbridge” architecture to transfer data directly between I/O devices across a bus that bypasses the CPU and central memory. The ‘028 Patent technology is also infringed by cell phones sold by certain Defendants that contain digital cameras and use the ‘028 Patent technology to transfer data directly from the camera sensor (input I/O) to the LCD screen (output I/O), bypassing the device’s CPU and central memory and permitting these cell phone digital cameras to function in viewfinder mode and to display images instantaneously and continuously on the screen. Yet another example of enhanced functionality made possible by the technology protected in the '028 Patent is cellular video sharing. In cellular video sharing, the output of the camera sensor of a data processing device is transferred directly to a network I/O unit of the device, bypassing the CPU and central memory of the device. Certain devices manufactured and sold by certain Defendants are capable of cellular video sharing and infringe the '028 Patent.

Ikanos Communications Completes Acquisition of Broadband Access Product Line From Conexant Systems, Inc.

FREMONT, CA--(Marketwire - August 24, 2009) - Ikanos Communications, Inc. (NASDAQ: IKAN), a leading provider of advanced broadband semiconductor and software products for the digital home, today announced that it has completed the acquisition of the Broadband Access product line from Conexant Systems, Inc.

Under the terms of the agreement, Ikanos purchased Conexant's Broadband Access product line for approximately $54 million in cash, excluding transaction costs, and the assumption of certain employee and facility related liabilities. Simultaneously, Ikanos received an investment of $42 million, excluding transaction-related expenses, from Tallwood Venture Capital, a leading investment firm focused on the semiconductor industry.

In addition, in accordance with the terms of the investment by Tallwood, George Pavlov, general partner of Tallwood Venture Capital, and Dado Banatao, managing partner and founder of Tallwood Venture Capital, have joined Ikanos' Board of Directors. Pavlov and Banatao will replace Gopal Venkatesh and Elizabeth Fetter who are stepping down from their seats on the board.

Craig Garen, former senior vice president and general manager of Conexant's Broadband Access, has joined the Company as Chief Operating Officer.

Friday, August 21, 2009

Microchip unwinding Supertex postion down to 7.4%

From today's Supertex 13D filing: During the last sixty (60) days, Microchip did not purchase any shares of Common Stock in the open market or pursuant to the exercise of put options previously written and sold by Microchip. During the last sixty (60) days, Microchip sold the following shares of Common Stock in the open market: 233,951 shares........On August 13, 2009, Microchip purchased put options in open market transactions that had the same terms as the put options previously sold by Microchip. As a result, Microchip no longer holds any options for the Company's Common Stock. Specifically, Microchip purchased for $40,500 put options on 30,000 shares of Common Stock at an exercise price of $22.50 per share with an expiration date of January 20, 2010 and Microchip purchased for $775,250 put options on 350,000 shares of Common Stock at an exercise price of $25.00 per share with an expiration date of January 20, 2010.

Previous posts:
Update: Microchip now owns 9.2% of Supertex
Microchip acquires 6.1% of Supertex in last 60 days

Thursday, August 20, 2009

Microsemi 8K - Microsemi Announces Settlement of DOJ Suit

IRVINE, Calif. August 20, 2009 — (GlobeNewswire) — Microsemi Corporation (NASDAQ: MSCC ) , a leading manufacturer of high performance analog mixed-signal integrated circuits and high reliability semiconductors, announced today that is has sold the assets of Semicoa to a third party. In connection with this sale, the United States Department of Justice has settled its civil action against Microsemi. Microsemi’s settlement with the Department of Justice is subject to final approval under procedures set out by federal law.

The results of this transaction will not have a material impact on Microsemi’s current quarterly results, and Microsemi is currently making no changes to its revenue or earnings guidance for the September quarter. Microsemi will provide additional details of the sale when it releases its September quarter and year-end results.

Tuesday, August 18, 2009

Leadis 8K - IXYS to acquire Leadis LED driver and controller business

"On August 15, 2009, Leadis Technology, Inc., a Delaware corporation (“Leadis”), entered into an Asset Purchase Agreement (the “Agreement”) with IXYS CH GMBH (“IXYS”) pursuant to which IXYS agreed to acquire certain assets related to Leadis’s LED driver and controller business and certain legacy display driver products (the “Assets”). Upon the terms and subject to the conditions of the Agreement, as consideration for the Assets, IXYS agreed to (i) pay Leadis $3.5 million in cash (the “Cash Consideration”) and (ii) assume specified liabilities related to the Assets. At the closing of the transaction (the “Closing”), IXYS will pay Leadis $2.625 million of the Cash Consideration, with the remainder of the Cash Consideration to be paid six months after the Closing. The amount of Cash Consideration payable for the Assets is subject to increase based upon the amount of inventory of certain display driver products transferred to IXYS at the time of the Closing. IXYS also will offer employment to certain employees that were employed in Leadis’ LED driver and controller business (the “Employees”). Leadis expects to complete the transaction in the current quarter.

The Agreement includes customary representations, warranties and covenants of Leadis and IXYS. The Agreement contains an indemnity by Leadis for breaches of representations, warranties and covenants made by it in connection with the transaction. Completion of the transaction is subject to the satisfaction of customary closing conditions, including, among other matters, (i) execution and delivery of specified ancillary agreements, (ii) accuracy of the representations and warranties and compliance with the covenants set forth in the Agreement, (iii) the absence of any material adverse change with respect to the Assets, Leadis’s LED business or the legacy display driver products, and (iv) the acceptance of employment with IXYS by certain of the Employees. Either party may terminate the Agreement, subject to certain exceptions, in the event of an uncured material breach by the other party or if the Closing has not occurred by specified dates."

LogicVision 8K - Acqusition by Mentor complete

WILSONVILLE, Ore. and SAN JOSE, Calif., August 18, 2009 – Mentor Graphics Corporation (NASDAQ: MENT) and LogicVision, Inc. (NASDAQ: LGVN) today announced that LogicVision stockholders have voted to approve, and the parties have closed, the previously-announced merger. Former LogicVision stockholders will receive 0.2006 share of Mentor Graphics common stock in exchange for each share of LogicVision common stock. LogicVision resources will be fully integrated into the Silicon Test Solutions group within the Mentor Design-to-Silicon division led by vice president and general manager, Joseph Sawicki.

Virage Logic Announces Intent to Acquire ARC International

FREMONT, Calif., Aug 18, 2009 (BUSINESS WIRE) -- Virage Logic Corporation (NASDAQ:VIRL), the semiconductor industry's trusted IP partner, today announced its intent to acquire publicly held ARC International plc (LSE:ARK), a leading provider of consumer IP to OEM and semiconductor companies globally. The proposed acquisition would expand Virage Logic's ability to serve the global semiconductor market by complementing its existing portfolio of physical IP and standards-based advanced interface IP with ARC's widely accepted processor IP, a necessary component for complex System-on-Chip (SoC) integrated circuits.

The proposed all-cash transaction values ARC at 16.25 pence per share, or an equity value of approximately £25.2 million ($41.0 million) on a fully-diluted basis. The Directors of ARC have recommended unanimously that ARC's shareholders accept the offer. Virage Logic expects that the offer document will be mailed to ARC shareholders shortly. The offer period will extend for a minimum of 21 days from the date the offer document has been mailed, and the transaction is expected to close by the end of Virage Logic's first fiscal quarter of 2010, which ends on December 31, 2009. The offer is subject to certain limited closing conditions, including that at least 90% of the ARC shares have been tendered into the offer.

On a non-GAAP basis, which excludes the effects of FAS123R stock compensation expense, restructuring, and amortization of intangible assets and acquisition related charges, Virage Logic expects the proposed acquisition to be accretive between $0.10 and $0.14 earnings per share to fiscal year 2010. Immediately following the closing of the acquisition, Virage Logic expects to have a cash balance of approximately $20 - $23 million.

Cowen and Company, LLC and Arbuthnot Securities Limited are acting as joint financial advisors to Virage Logic. Jefferies International Limited and Woodside Capital Partners are acting as joint financial advisors to ARC.

Monday, August 17, 2009

Abilis Acquires Two Product Lines From Freescale Semiconductor

GENEVA, August 17 /PRNewswire-FirstCall/ -- Abilis Systems, a Kudelski Group company, (SWX:KUD) and a pioneer RF semiconductor company, announces the acquisition of Freescale Semiconductor CMOS Modulators and Silicon Tuner product lines. The acquisition of these assets will allow Abilis to expand its broad portfolio of leading, silicon- based digital TV (DTV) and tuner solutions and better address the needs of the growing digital TV market, and in particular of Digital Terrestrial (DTT) and cable platforms. It will enable Abilis to support the growth of Pay-TV operators by combining its innovative cutting-edge technology with well- established and proven technology and knowledge from one of the most relevant global chip manufacturers. Furthermore, this extension of product portfolio and related skills and competences will further enhance its expertise in this area with the integration within Abilis of the dedicated team from Freescale.

Abilis will begin selling these products under the Abilis brand effective October 1, 2009. Key members of the Freescale Digital Home Operations (DHO) team who support these products have transitioned to the Abilis Chandler, Arizona-based product team. Freescale and Abilis Systems are jointly committed to ensure a smooth and seamless transition for the current client base. Abilis is securing a high quality of service and the sustainability and timeliness of product delivery.

The acquired portfolio of innovative, high-performance CMOS modulators and silicon tuners are targeting the rapidly expanding DTV market, where Freescale is currently the world-leader supplier of modulators. These products include a family of CMOS modulator chips as well as high performance silicon tuners that are increasingly being integrated in favor of bulky, can-type tuners in DTV applications. The performance, low cost and versatility of these devices has given Freescale broad market acceptance in the HDTV market.

Saturday, August 15, 2009

Virage Logic 10Q

Revenue sources: "License revenues for the three months ended June 30, 2009 and 2008 were $9.0 million and $10.5 million, respectively. Maintenance revenues for the three months ended June 30, 2009 and 2008 were $1.7 million. Royalty revenues for the three months ended June 30, 2009 and 2008 were $1.2 million and $2.8 million, respectively."

IP License revenue by process node:

  • 32nm = 1%
  • 45nm = 39%
  • 65nm = 28%
  • 90nm = 19%
  • 130nm = 4%
  • 180nm = 4%
  • Other = 5%
IP Maintenance revenue by process node:
  • 32nm = 1%
  • 45nm = 19%
  • 65nm = 30%
  • 90nm = 30%
  • 130nm = 12%
  • 180nm = 7%
  • Other = 1%

Anadigics 10Q

Revenue and margin collapse:
  • Net sales decreased 60.9% during the second quarter of 2009 to $31.5 million from $80.5 million in the second quarter of 2008.
  • Sales of integrated circuits for wireless applications decreased 53.0% during the second quarter of 2009 to $23.2 million from $49.3 million in the second quarter of 2008.
  • Sales of integrated circuits for broadband applications decreased 73.4% during the second quarter of 2009 to $8.3 million from $31.2 million in the second quarter of 2008.
Gross margin during the second quarter of 2009 decreased to 8.8% of net sales from 37.2% of net sales in the second quarter of 2008.

Zilog 10Q - IP sale to a NPE

Sale of IP to a non practicing entity: "On May 27, 2009, the Company sold certain intellectual property rights associated with five of the Company's patents. The related patents are 5386469, 5588118, 5781784, 5805834 and 6154793. The patents were sold and assigned to a non practicing entity ("NPE") for cash consideration of $1 million. The transaction was recorded as a credit to other income and as a patent assignment receivable at June 27, 2009. The cash was collected from the NPE on July 14, 2009. The terms and conditions of the agreement are confidential."

Memsic - 10Q

Revenue for Q2 2009 versus Q2 2008 by application:
  • Mobile Phone: $4.74M (52% of sales) up from $2.02M
  • Consumer: $2.21M (24.3% of sales) up from -$.138M*
  • Automotive: $1.78M (19.5% of sales) up from $1.34M
  • Industrial/other: $.39M (4.2% of sales) flat from last year
*Includes $2M revenue reversal in Q2 2008.

Our gross margin has decreased from 65.1% in 2007, to 47.9% in 2008 and 46.7% in the first six months of 2009.

California Micro Devices - Proxy Materials

Escalation of Proxy fight: "Dissident stockholder Dialectic Capital Management is seeking your support for its own slate of three nominees. Dialectic, however, has presented no plan to build stockholder value and seems confused, at best, about what strategy it thinks the company should pursue. As Dialectic accumulated CMD stock, Dialectic made repeated demands that we rejected time and time again – distribute significant cash to stockholders via repurchase or dividend. When Dialectic first became more active as a dissident in December, 2008, it called for CMD to “return $33 million or $1.42 a share in a dividend to all stockholders and immediately engage an investment bank and begin a sale process of the Company.” We believe these demands, which we again rejected, reflect a “quick buck” approach and indicate Dialectic’s ignorance of both the underlying value of CMD and the need for CMD to retain substantial cash reserves to demonstrate its staying power to its customers.........Since it has no plan to offer, Dialectic can only ask that you trust the experience and qualifications of its nominees. We think you should know some very pertinent facts about their qualifications and experience that Dialectic failed to mention when seeking your trust. When Dialectic told you that nominee Kenneth Potashner “has over 20 years of experience as a successful technology company executive,” and cited his experience at SONICblue Incorporated, it deliberately did not mention that Mr. Potashner was terminated as Chairman, President and CEO of SONICblue just seven and a half months before the company filed for bankruptcy . While Mr. Potashner was CEO, the company was embroiled in legal battles with one or more competitors, consultants, and suppliers, and with 28 film and broadcasting companies......Another Dialectic nominee, J. Michael Gullard, has served on several public company boards and in many instances shareholder value has declined during his tenure. He served on the boards of two companies, DynTek Inc. and Proxim Wireless Corp., when those companies became delisted from their respective exchanges . During Mr. Gullard’s tenure as a director at Planar Systems and Proxim Wireless Corp., each company lost over 80% of its value, as of July 31, 2009. Additionally, after adjusting for intervening cumulative 1:10,000 reverse stock splits, the share price of DynTek Inc., of which Mr. Gullard has been Chairman of the Board since October, 2005, has fallen from $3,000 on the OTCBB to $7.95 on the Pink Sheets since June 27, 2005, when he first joined the DynTek Inc. Board."

Linear Technology 10K

Customer concentration: "No single end customer has accounted for 10% or more of the Company’s revenues."

"Processed wafers are sent to either the Company’s assembly facility in Penang, Malaysia or to offshore independent assembly contractors where the wafers are separated into individual circuits and packaged. The Penang facility opened in fiscal year 1995 and currently services approximately 85% to 95% of the Company’s assembly requirements for plastic packages. The Company’s primary assembly subcontractors are UTAC, located in Thailand; and Carsem Sdn, located in Malaysia."

Patent Foundation:
"The Company has been awarded 474 United States and international patents and has considerable pending and published patent applications outstanding."

Employees: "As of June 28, 2009, the Company had 3,821 employees, including 428 in marketing and sales, 1,023 in research, development and engineering related functions, 2,268 in manufacturing and production, and 102 in management, administration and finance."

Monday, August 10, 2009

Cypress 10Q

Revenues by segment for quarter ending June 28, 2009 versus same quarter last year:
  • Consumer and Computation Division $62.3M -24.7%
  • Data Communications Division $25.5M -25.9%
  • Memory and Imaging Division $66.2M -25.5%
  • Other $1.7M -50% (divested Silicon Light Machines)
Gross margin percentage decreased from 48.5% in the second quarter of fiscal 2008 to 36.7% in the second quarter of fiscal 2009.