Friday, March 6, 2009

PLX Technology 10K

Wafer foundy, assembly and test: "Currently, our products are primarily being fabricated, assembled or tested by AMD, Advanced Semiconductor Engineering, Fujitsu, FST, NEC, Seiko-Epson Semiconductor, STATS ChipPAC Ltd., Taiwan Semiconductor Manufacturing Corporation and UMC."

"As of December 31, 2008, we employed a total of 158 full-time employees, including 71 engaged in research and development, 57 engaged in sales and marketing, 3 engaged in manufacturing operations and 27 engaged in general administration activities."

Oxford acquisition:
"On December 15, 2008, we signed a definitive agreement to acquire all of the outstanding shares of capital stock of Oxford, a privately held fabless provider of industry-leading silicon and software for the SOHO storage markets. The acquisition closed on January 2, 2009.........As a part of the Merger Agreement, the Company acquired all of the outstanding shares of capital stock of Oxford in exchange for 5,600,000 shares of common stock of PLX and a promissory note in the principal amount of $14,200,000 (the “Note”) that will be satisfied by either (i) the issuance of an additional 3,400,000 shares of common stock of PLX upon approval of PLX’s stockholders, or (ii) the repayment of the principal amount of the Note if such stockholder approval is not obtained by June 30, 2009.........The Company had a layoff in the first quarter of 2009 in connection with the acquisition of Oxford. The estimated severance cost is approximately $2.0 million."