Friday, July 31, 2009

Rambus 10Q

Increasing customer concentration: "Five customers accounted for 26%, 15%, 14%, 13% and 12%, respectively, of revenue in the three months ended June 30, 2009.........We have a high degree of revenue concentration, with our top five licensees representing approximately 79% and 78% of our revenue for the three and six months ended June 30, 2009, respectively. This compares with the three and six months ended June 30, 2008, in which revenue from our top five licensees accounted for approximately 69% and 68% of our revenue, respectively. For the three months ended June 30, 2009, revenue from Fujitsu, Sony, AMD, Toshiba and NEC each accounted for 10% or more of our total revenue. For the six months ended June 30, 2009, revenue from Fujitsu, NEC, AMD, Sony and Panasonic each accounted for 10% or more of our total revenue."

Patent foundation: "As of June 30, 2009, our chip interface technologies are covered by more than 810 U.S. and foreign patents. Additionally, we have approximately 560 patent applications pending."

Microtune Completes Acquisition of Auvitek

PLANO, Texas--(BUSINESS WIRE)--Microtune®, Inc. (NASDAQ: TUNE) today announced it has completed its acquisition of privately held Auvitek International, Ltd. Auvitek, a developer of demodulation integrated circuits, adds new technology, intellectual property, engineering talent and an enhanced China market presence to Microtune. It increases the depth and diversity of Microtune’s product portfolio for the worldwide digital television (DTV) marketplace, enabling the Company to offer complete receiver front-end solutions to its customers.

Thursday, July 30, 2009

Monolithic Power Systems 10Q

Litigation updates:

"On September 30, 2008, based on information and belief that O2Micro had alleged to a customer that certain of the Company’s inverter controller products infringe O2Micro’s patents, the Company filed for declaratory judgment relief in the United States District Court for the Northern District of California (“NDCal Court”) against O2Micro that those products do not infringe O2Micro’s 6,856,519 (‘519) patent family and the patents are invalid. O2Micro filed a counterclaim, alleging infringement of the ‘519 patent family and U.S. Patent No. 7,417,382 (‘382 patent). Trial in the NDCal Court case is scheduled to begin on August 2, 2010.

On December 15, 2008, O2Micro filed a complaint with the International Trade Commission, alleging that certain of the Company’s products infringe O2Micro’s ‘519 patent family and the ‘382 patent (“ITC Investigation”). The ITC Investigation hearing is scheduled to begin on October 19, 2009.

After the Company had identified the prior art and inequitable conduct arguments concerning the ‘519 patent family, O2Micro agreed to dismiss its claims of infringement with regard to those patents and to covenant that it would not sue either the Company or its customers in the future for infringement of those patents. On June 22, 2009, the Administrative Law Judge issued an order to terminate the ITC Investigation as to the ‘519 patent family. On July 14, 2009, the NDCal Court issued an order dismissing with prejudice, the claims for relief concerning the ‘519 patent family. Accordingly, the only patent at issue in both the ITC Investigation and the NDCal Court case is the ‘382 patent."

Chip Advanced Technology Inc.: "On December 12, 2007, the Company filed a patent infringement lawsuit in the U.S. District Court for the Central District of California against Chip Advanced Technology Inc. (“CAT”), asserting that CAT willfully infringed a MPS patent that enables efficient low voltage, low current power conversions, such as DC-DC step down converters. CAT was subsequently acquired by ITE Technology (“ITE”), which became a successor in interest to CAT. On July 28, 2009, the Company entered into a license agreement and a settlement agreement with ITE in which the parties agreed to mutually release and dismiss the complaints." (Editor's note: Patent at issue was US 6,897,643, "
Integrated circuit driver having stable bootstrap power supply.")

ARC International plc in take-over talks

"The board of directors of ARC International plc (“ARC” or the “Company”) notes today’s movement in the Company’s share price and confirms that it is in discussions with a third party which may or may not lead to an offer being made for the entire issued and to be issued share capital of the Company.

The discussions are at a preliminary stage and there can be no certainty that an offer will be made for ARC or as to the terms on which any offer would be made.

A further announcement will be made if and when appropriate."


Process geometries run in Q2 (note these are revenue not wafer volume): "Advanced process technologies (0.13-micron and below) accounted for 65% of wafer revenues. 90-nanometer process technology accounted for 23% of wafer revenues, 65-nanometer 28%, and 45/40-nanometer, with wafer shipments tripling those of 1Q, exceeded 1% of total wafer sales."

Wednesday, July 29, 2009

OPTi and Standard Microsystems Corporation Reach Settlement Agreement in Patent Infringement Action

PALO ALTO, Calif.--(BUSINESS WIRE)--OPTi Inc. (OTCBB:OPTI) today announced that it has entered into a Dismissal and License Option Agreement with Standard Microsystems Corporation (“SMSC”). The agreement suspends the lawsuit that the Company filed against SMSC in the Eastern District of Texas.

On July 2, 2007, the Company announced that it filed a complaint against SMSC 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 SMSC 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 SMSC without prejudice and to refrain from re-filing the lawsuit for a specified period of time, SMSC has agreed to make a payment of $1,900,000 to OPTi. The Company has also granted SMSC an option to purchase a license from OPTi for an additional license fee of $100,000.

Silicon Labs - 10Q

Customer concentration: "During the six months ended July 4, 2009, one customer, Samsung, represented more than 10% of our revenues........During the six months ended July 4, 2009, our ten largest customers accounted for 45% of our revenues."

Editors note: This is a material increase in customer concentration over their last fiscal year noted here.

Monday, July 27, 2009

Mindspeed 8K - Revenue by segment

Total Revenue: $32.5 million, up 23 percent sequentially, excluding patent sales in the prior period

Revenue by segment:
  • Multiservice Access (MSA) VoIP Revenue: $13.6 million, up 27 percent sequentially
  • High-Performance Analog (HPA) Revenue: $10.0 million, up 22 percent sequentially
  • Wide Area Networking (WAN) Revenue: $8.9 million, up 17 percent sequentially

Friday, July 24, 2009

Advanced Analogic 10Q

Revenue by segment for three ended June 30, 2009:
  • Display and Lighting Solutions $14.6M
  • Voltage Regulation and DC/DC Conversion $4.0M
  • Interface and Power Management $3.4M
  • Battery Management $1.0M
New litigation: "In March 2009, the Company initiated a lawsuit against a small, privately held semiconductor manufacturing company alleging patent infringement of certain of its patented product designs. This case is pending in the United States District Court for the Northern District of California. The Company does not believe that this lawsuit will have a material impact on its business or financial condition."

Editor's note: The defendant is Kinetic Technologies, Inc. and the patent in question is US 7,127,63, "
Single wire serial interface utilizing count of encoded clock pulses with reset"

Broadcom 10Q - Updated with patent information

New litigation: "On July 22, 2009, British Telecom sued Broadcom in United States District Court for the District of New Jersey alleging infringement of a single patent purportedly relating to V.42bis data compression. The patent in suit expires in October 2009. Broadcom has not yet answered the complaint and a trial date has not been set."

Editor's note: The patent at issue is US
5,153,591, "Method and apparatus for encoding, decoding and transmitting data in compressed form."

Wednesday, July 22, 2009

Atheros 10Q

Litigation updates:

Broadcom Corporation and Atheros Communications, Inc. v. Wi-LAN, Inc.
On December 10, 2008, the Company and Broadcom filed a complaint for declaratory judgment against Wi-LAN, Inc. in the U.S. District Court for Northern District of California, requesting the court to declare, among other things, that U.S. patent number6,549,759, (“‘759 Patent”), assigned to Wi-LAN is invalid, unenforceable and that the Company does not infringe any valid claims of the ‘759 Patent. This declaratory judgment action stemmed from Wi-LAN’s threat to add this patent into the complaints filed by Wi-LAN against the Company and others, now pending in the Eastern District of Texas. Similar declaratory judgment actions were filed by a number of other companies against Wi-LAN. There can be no assurance that the Company will be successful in seeking declaratory relief from Wi-LAN’s threat.

Atheros Communications, Inc. v. Lehman Brothers, Inc.
On January 30, 2009, the Company filed a Proof of Claim in the United States Bankruptcy Court for the Southern District of New York against Lehman Brothers, Inc. seeking compensatory damages incurred in connection with Lehman Brothers’ investment of the Company’s cash in auction-rate securities and resulting losses of income and liquidity, as well as punitive damages. On the same day and for related reasons, the Company filed a Customer Claim against Lehman Brothers with the federal Securities Investor Protection Corporation. There can be no assurance that the Company will obtain compensation for the Company’s claims.

PACid Group, LLC v. Apple Inc. et al.
On March 30, 2009, PACid Group, LLC (“PACid”) filed a complaint against the Company and 18 other defendants in the United States District Court for the Eastern District of Texas, Tyler Division. In the complaint, PACid alleges that certain of the Company’s products infringe U.S. Patent Numbers 5,963,646 and 6,049,612 which relate to generation of encryption keys and methods of protecting information files using such keys. PACid seeks unspecified damages and other relief. The Company has answered the complaints, denying all allegations and asserting affirmative defenses. The Company also asserted counterclaims requesting declaratory judgment for non-infringement and invalidity. However, there can be no assurance that the Company will be successful in such defense.

Specht et al. v. Google Inc. et al.
On April 28, 2009, Erich Specht and The Android’s Dungeon Incorporated filed a complaint against Google Inc., the Open Handset Alliance and its numerous members, including the Company, in the United States District Court for the Northern District of Illinois, Chicago Division. In the complaint, Specht alleges infringing use of the ANDROID DATA mark, U.S. Trademark Registration Number 2,639,556. Specht seeks unspecified damages and other relief. The Company has not yet answered the complaint.

Monday, July 20, 2009

AXT 8K - Dr. Young returns to CEO role

"On July 20, 2009, AXT, Inc. announced that it has appointed Dr. Morris S. Young as Chief Executive Officer, effective July 16, 2009. Dr. Young fills the vacancy created by the March 2009 departure of Dr. Philip C.S. Yin as the Company’s chief executive officer.

Dr. Young co-founded AXT in 1986 and served as its chief executive officer from 1989 to 2004. He has been a director of AXT since 1989 and held the position of chairman of the Board from 1998 to 2004. From 1985 to 1989, Young was a physicist at Lawrence Livermore National Laboratory. He holds a B.S. degree in metallurgical engineering from National Cheng Kung University, Taiwan, a M.S. degree in metallurgy from Syracuse University, and a Ph.D. in metallurgy from Polytechnic Institute of New York University."

Friday, July 17, 2009

Integrated Device Technology 8K - Sale of Network Search Engine business to NetLogic Microsystems completed

On July 17, 2009, Integrated Device Technology, Inc. (“IDT” or the “Company”) completed the sale of certain assets related to its network search engine business (the “NWD Assets”) to NetLogic Microsystems, Inc. (“NetLogic” and together with IDT, the “Parties”), pursuant to an Asset Purchase Agreement by and between the Company and NetLogic dated April 30, 2009 (the “Agreement”). Upon closing of the transaction, NetLogic paid the Company $100 million in cash consideration, which included inventory valued at approximately $10 million (subject to adjustment) and assumed specified liabilities related to these assets. The Company’s NWD Assets are part of the Communication reportable segment.

Upon closing of the transaction, the Parties entered into an Intellectual Property Cross-License Agreement (the “Cross-License Agreement”) pursuant to which IDT granted to NetLogic and certain of its affiliates a license to use certain of IDT’s retained technology assets in connection with the NWD Assets in certain fields of use. In addition, NetLogic and its affiliates granted back to IDT and its affiliates a license to use certain of the technology assets included in the NWD Assets in certain fields of use. The licenses granted in the Cross-License Agreement are royalty-free and irrevocable.

In connection with the closing of the transaction, IDT entered into a noncompetition agreement with NetLogic related to the NWD Assets for a term of three years, subject to certain exceptions. In addition, the Company will provide certain transitional services and supplies to NetLogic for a limited time following the closing of the sale. Additional details regarding the transaction are provided in the related Current Report on Form 8-K previously filed by the Company on April 30, 2009 and Current Report on Form 8-K previously filed by the Company on May 6, 2009.

Thursday, July 16, 2009

Spreadtrum Communications 20F

Wafer foundries and process geometries: "All of our current semiconductors are developed and manufactured with 0.18-micron, 0.16-micron, 0.152-micron, 90-nanometer and 65-nanometer CMOS process technology. We have outsourced all of our wafer production to foundries, most of which has been outsourced to TSMC, the world’s largest foundry and our primary foundry service provider since our inception."

Assembly and test: "We have developed our own automatic testing program for semiconductors and outsource all of our assembly and testing requirements to ASE, SPIL and other sub-contractors."

Employees: "As of December 31, 2008, our workforce consisted of 674 employees, of which 639 were located in China and 35 were located in the United States. Of our employees, 55 were in sales and marketing, 74 were in general and administration, 519 were in research and development and 26 were in operations and procurement and information technology."

Patent foundation: "As of May 31, 2009, we owned 45 patents and had 375 pending patent applications in China, we owned 23 patents and had 29 pending patent applications in the United States and we had 11 pending patent applications in Europe and 5 pending PCT patent applications. We also acquired co-ownership of 20 patents and 10 pending patent applications in China. Our issued patents and pending patent applications relate primarily to technology we developed for our baseband semiconductors, including TD-SCDMA, HSDPA, HSUPA, WCDMA and GSM/GPRS technologies, and radio frequency transceivers."

Omnivision Technologies 10K

Customer concentration: "The one OEM customer that accounted for 10% or more of our revenues in fiscal 2009 was Foxconn Technology Group, or Foxconn, which accounted for approximately 10.4% of our revenues. The one distributor that accounted for 10.0% or more of our revenues in fiscal 2009 was World Peace Industrial Group or World Peace, which accounted for approximately 22.4% of our revenues."

Wafer foundries and geometries: "We outsource our wafer manufacturing for image sensors to TSMC and PSC. Our image sensor products are currently fabricated using a standard process at 0.11 µm, 0.13 µm, 0.18 µm, 0.25 µm, 0.50 µm and 0.60 µm. In addition, TSMC fabricates our companion DSP and interface chips."

Packaging and test:
"For a portion of our product lines, we rely on Siliconware Precision Industries Co., Ltd. and ImPac Technology Co., Ltd., or ImPac, an investee company, for substantially all of our ceramic chip packaging. We rely on XinTec, and China Wafer Level Chip Scale Packaging, or WLCSP, two other investee companies, for our CSP products, which are generally designed for the smallest form factor applications. Wafers that are designated for chip-on-board, or COB, packaging are tested using a process called wafer probe testing. We outsource wafer probe testing to King Yuan Electronics Co., Ltd., STATS ChipPAC Taiwan Semiconductor Corp. and VisEra."

Employees: "As of April 30, 2009, we had a total of 416 full-time employees engaged in research and development."

Patent foundation: "As of April 30, 2009, we have been issued 98 United States patents which expire between October 2015 and August 2026. We have also received 150 foreign patents which expire between April 2016 and December 2027. As of April 30, 2009, we have 132 additional United States patent applications pending, of which two have been allowed, and we have 243 foreign patent applications pending, of which 19 have been allowed."

Recent litigation: "On March 6, 2009, Panavision Imaging, LLC, or Panavision, filed a complaint against us alleging patent infringement in the District Court for the Central District of California. The case is entitled Panavision Imaging, LLC v. OmniVision Technologies, Inc., Canon U.S.A., Inc., Micron Technology, Inc. and Aptina Imaging Corporation, Case No. CV09-1577. In its complaint, Panavision asserts that we make, have made, use, sell and/or import products that infringe U.S. Patent Nos. 6,818,877 ("Pre-charging a Wide Analog Bus for CMOS Image Sensors"), 6,663,029 ("Video Bus for High Speed Multi-resolution Imagers and Method Thereof") and 7,057,150 ("Solid State Imager with Reduced Number of Transistors per Pixel"). The complaint seeks unspecified monetary damages, fees and expenses and injunctive relief against us. We are in the initial stages of reviewing and investigating the complaint and expect to vigorously defend ourselves against Panavision's allegations. The Court has scheduled a claim construction hearing for December 10, 2009. At this time, we cannot estimate any possible loss or predict whether this matter will result in any material expense to us."

Vimicro International 20F

Revenue by product line percentage of total:
  • PC and embedded notebook camera multimedia processors: $36.3M or 42%
  • Image sensors: $17.2M or 19.8%
  • Mobile phone multimedia processors: $20.3M or 23.5%
  • Other including digital surveillance: $12.7M or 14.7%

Customer concentration:
"Our top ten customers collectively accounted for approximately 76%, 69% and 71% of our revenue in 2006, 2007 and 2008, respectively.......Hanvision Electronic Co., Ltd., or Hanvision, and Tomen Electronics Corporation, or Tomen, became our major customers in 2008 and sales to each of Hanvision and Tomen accounted for over 10% of our net revenue in 2008."

Wafer foundries:
"TSMC historically manufactured substantially all of our multimedia processors. To diversify our wafer suppliers and reduce our significant dependence on a single foundry, we began to use Semiconductor Manufacturing International Corporation, or SMIC, to manufacture some of our products in 2004. In 2006, 2007 and 2008, third-party foundries other than TSMC manufactured 43%, 57%, and 39%, respectively, of our multimedia processors."

Process geometries: "The bulk of our multimedia processors are manufactured with 0.18 micron and 0.09 micron CMOS process technologies. We are developing new products that will be manufactured using even more advanced 90 nanometer CMOS process technology."

Assembly and test: "Currently, we engage ASE and Siliconware Precision Industries Co., Ltd., or SPIL for our assembly and testing requirements.........In 2006, we replaced ASAT Holdings Limited, or ASAT, with SPIL to better serve our clients."

Patent foundation: "As of December 31, 2008, we owned 428 patents in China and had 1,074 pending patent applications in China, owned five patents and had 53 pending patent applications in the United States, had eight pending patent applications in Taiwan, three pending patent applications in Japan and three pending patent applications in Korea."

Employees: "We had 588, 568 and 663 employees as of December 31, 2006, 2007 and 2008, respectively. As of December 31, 2008, we had 79 employees in management and administration, 523 employees in research and development and 61 employees in sales and marketing."

Silicon Motion Technology 20F

Customer concentration: "Sales to our five largest customers represented approximately 35%, 38% and 35% of our net revenue in 2006, 2007 and 2008, respectively. In 2008, Samsung Electronics was our largest customer and accounted for approximately 10% of our sales."

Sales by product line:
  • Mobile storage including controllers for flash memory cards, USB flash drives, SSDs, embedded flash applications, and flash card readers. NTS 4.1M or 75% of sales
  • Mobile communications including mobile TV IC solutions, CDMA RF ICs, and electronic toll collection RF ICs. NTS 0.965M or 17% of sales
  • Multimedia SoCs including graphics processors, PC camera SoCs, and MP3 SoCs. NTS .402M or 7% of sales
  • Other 1% of sales
Wafer foundries: "TSMC in Taiwan, SMIC in China, Silterra in Malaysia and ST Microelectronics in Europe are currently our primary foundries that manufacture most of our semiconductors. Our foundries in Taiwan, Malaysia and China currently fabricate our devices using mature and stable CMOS process technology primarily with line-widths of 0.09-, 0.13-, 0.16-, 0.18-, and 0.25- micron. We also rely on STMicroelectronics as our foundry for mobile communications products using Bi-CMOS process technology primarily with line-widths of 0.25 and 0.35 micron."

Assembly and test: "We currently engage companies such as SPIL, Taiwan IC Packaging (TICP), King Yuan Electronics, and Youngtek Electronics in Taiwan and Amkor in Korea as our primary subcontractors for the assembly and testing of our products."

Patent foundation: "As of June 23, 2009, we had 91 patents in China, Japan, Korea, Taiwan, and the United States and 297 patents pending."

Tuesday, July 14, 2009

AuthenTec Acquires Assets of Atrua Technologies

MELBOURNE, Fla., July 14, 2009 – AuthenTec (NASDAQ: AUTH), the world’s leading provider of smart fingerprint sensors and solutions, announced today that it has completed a transaction to acquire the assets of fingerprint sensor maker Atrua Technologies for approximately $4.9 million in cash. The asset purchase further extends AuthenTec’s industry leading position in the wireless market and adds to its expansive intellectual property (IP) portfolio. Papers have also been filed with the Federal District Court for the Northern District of California to effect the dismissal of all claims pending in AuthenTec’s patent infringement suit against Atrua as well as Atrua’s counterclaims.

Through this transaction, AuthenTec acquired certain Atrua assets including its “Fingerprint Touch Control” and “Micro Pressure Control” products, as well as technologies and IP associated with the Atrua fingerprint sensor hardware and software. The acquired IP includes more than 30 issued and pending U.S. patents, focused primarily on fingerprint sensor and intelligent touch controls for mobile devices, bringing AuthenTec’s total patent portfolio to more than 100 issued and pending U.S. patents.

Friday, July 10, 2009

Microtune Announces Agreement to Acquire Auvitek

PLANO, Texas & SHANGHAI--(BUSINESS WIRE)--Jul. 10, 2009-- Microtune®, Inc. (NASDAQ: TUNE) today announced the signing of a definitive agreement to acquire privately-held Auvitek International, Ltd. for approximately $9 million in cash and stock and with a potential earn-out if certain performance targets are met, all subject to various standard closing conditions. The acquisition is expected to close during the month of July.

Microtune, inventor of the single-chip TV tuner, is a leading supplier of radio frequency (RF) silicon and systems solutions for the cable TV, digital TV (DTV) and automotive entertainment markets. Auvitek is a supplier of advanced DTV demodulator integrated circuits (ICs) for the HDTV and TV-enabled peripherals markets with primary engineering operations based in Shanghai, China. The addition of Auvitek’s complementary digital components will transform Microtune from a pure-play tuner supplier to a developer of highly integrated RF-to-bits solutions.

Upon the close of the acquisition, Auvitek will be wholly-owned by Microtune. Birch will become Vice President and General Manager of the newly-formed Microtune Digital Television Business, reporting to Executive Vice President, Barry F. Koch.

Under the terms of the agreement, Microtune will pay approximately $6.8 million in cash and one million shares of Microtune stock, with a current value of approximately $2.2 million, for the Auvitek business.

Thursday, July 9, 2009

SMSC Announces Agreement to Acquire Tallika Corp.

HAUPPAUGE, N.Y.--(BUSINESS WIRE)--SMSC (NASDAQ: SMSC) today announced that it has signed an agreement to acquire Tallika Corporation (Tallika), a team of approximately 50 highly skilled engineers located in design centers in Chennai, India and Phoenix, Arizona. This team will bring to SMSC a broad set of capabilities, including SoC and software development. The Tallika and SMSC teams have previously worked together on various projects including transceiver development, chip design and pre-silicon verification. SMSC has agreed to pay approximately $3.4 million to purchase Tallika. The acquisition is expected to be non-dilutive and to close in August 2009.

Monday, July 6, 2009

IDT 8K - Staff cuts follow Tundra acqusition

On June 29, 2009, the Company announced a plan of termination to reduce its workforce by approximately 4.1%. The Company has taken this action following its acquisition of Tundra Semiconductor Corporation, Inc. and an assessment of ongoing personnel needs in light of the acquisition. In connection with these actions, the Company estimates that it will incur approximately $7.8 million to $8.2 million in connection with cash expenditures for severance and related costs.

Zilog 10K

Details (bundled) of business sales to Maxim and UEI: ".....on February 18, 2009, we sold our universal remote control and secured transaction processor businesses to Maxim and UEI for approximately $31 million in cash including $3.1 million that is held in escrow to satisfy any losses incurred by Maxim or UEI that may result from inaccuracies in the company's representations and warranties in the acquisition agreement or our failure to fulfill certain obligations in the acquisition agreement. The escrow is scheduled to be released 50% after 6 months and 100% after 12 months."

Wafer foundry sources: "We source our wafer requirements from third-party foundries located in Taiwan and the United States. Generally, wafers for our embedded flash products are supplied by TSMC and UMC and our traditional classic products are provided by X-FAB in Lubbock, Texas."

Patent Foundation: "We currently have 185 U.S. and non-U.S. patents as of March 31, 2009, which expire between fiscal years 2010 and 2026."

Employees: "As of March 31, 2009, we had 174 full time employees, comprised of approximately 96 in manufacturing-related activities, 22 in engineering, 18 in sales and marketing and 38 in general and administrative functions, including Finance, HR, IT and facilities, of which a total of 25 are located in our global support facility in Manila, Philippines. 33 of our 174 full time employees supported transitional activities associated with our December 2008 worldwide headcount reduction plan, which was substantially completed in June 2009."

Vitesse 8K - Sells networking patents

"On June 30, 2009, Vitesse Semiconductor Corporation (the “Company”) entered into a Sale and Purchase Agreement (the “Agreement”) and consummated the sale, assignment and transfer of certain patents (the “Vitesse Patents”) from its intellectual property portfolio for consideration of $8.25 million with such payment due by July 15, 2009. The Vitesse Patents relate to the Company’s non-core business, specifically its network processing products.

The Agreement provides that the Company shall retain a non-exclusive, revocable, non-assignable, non-divisible, worldwide, fully-paid-up, royalty-free, perpetual right and license to the Vitesse Patents for the full life of such Vitesse Patents. In the event the Company is dissolved, liquidated, acquired by, merged into, or sells substantially all of its stocks and/or assets to another entity, this license shall be limited to products of the Company at the time of said dissolution, liquidation, acquisition, merger, or sale, excluding future versions or successors that include major functional enhancements. The Agreement also contains other customary representations, warranties, and affirmative and negative covenants for agreements of this type."

Wednesday, July 1, 2009

International Rectifier 8K - Announces Settlement with Vishay Intertechnology, Inc.

EL SEGUNDO, California.—(BUSINESS WIRE) — July 1, 2009 — International Rectifier Corporation (NYSE:IRF) and Vishay Intertechnology, Inc. (NYSE:VSH) today announced that they have entered into a settlement agreement to resolve certain disputes related to Vishay’s acquisition in 2007 of International Rectifier’s Power Control Systems (“PCS”) business. Under the settlement, International Rectifier has refunded $30.0 million of the purchase price associated with the acquisition, and Vishay has released International Rectifier from claims related to certain outstanding disputes regarding the acquisition. In addition, Vishay and International Rectifier clarified and revised the covenant not-to-compete associated with the acquisition to permit International Rectifier to develop, design, manufacture, and sell under certain conditions additional products that incorporate technologies sold or licensed to Vishay in the acquisition. International Rectifier also granted to Vishay a license to certain additional technology developed in the future by International Rectifier.

International Rectifier expects to report a pretax gain for the fourth fiscal quarter ending June 28, 2009 in excess of $85 million due to recognition of the gain on the sale of the PCS business that had been deferred due to the previous uncertainties now resolved in the settlement.

International Rectifier completed the sale of the PCS business to Vishay Intertechnology, Inc. on April 1, 2007.