Alliance Semiconductor Receives $35.7 Million in Cash and Stock From Adaptec/Platys Merger.Business Editors SANTA CLARA, Calif.--(BUSINESS WIRE)--Oct. 4, 2001 Alliance Semiconductor Corporation (Nasdaq:ALSC ALSC Association for Library Service to Children ALSC Adirondack Lakes Survey Corporation ALSC Afloat Logistics and Sealift Capability ALSC American Lumber Standards Committee, Inc. ALSC Advanced Logistics Systems Center (AFMC) ) today announced that it received $35.7 million in cash and Adaptec, Inc. stock (Nasdaq:ADPT ADPT Automated Data Processing/Telecommunications ADPT Adaptec Corporation (stock symbol) ADPT Adaptive Prediction ADPT Auger Depth Profiling Technique ADPT Automated Data Processing Telecommunications ADPT Adapter ) resulting from Adaptec's acquisition of Platys platys see platyfishes. Communication, Inc., which was previously announced by the Company on July 9, 2001. The Company, through one of its venture funds, Alliance Ventures III, LC, owned a 23.2% stake in Platys. The Company will report an approximate $31.2 million pre-tax gain on this transaction for its quarter ending September 30, 2001. For its 23.2% interest in Platys, Alliance received one-half payment in cash and one-half in Adaptec common stock. A 10% portion of the cash payment will be held in escrow for one year by Adaptec, as an assurance of certain warranties made by Platys. One-third of the Adaptec stock received by the Company is freely tradable, with another third becoming tradable after 90 days, and the final third being tradable after 180 days. Company Information Alliance Semiconductor Corporation is a leading worldwide supplier of high performance memory and memory intensive logic products. Alliance's product lines include Static Random Access Memory Static random access memory (SRAM) is a type of semiconductor memory. The word "static" indicates that the memory retains its contents as long as power remains applied, unlike dynamic RAM (DRAM) that needs to be periodically refreshed (nevertheless, SRAM should not be confused with (SRAM See static RAM. SRAM - static random-access memory ), Dynamic Random Access Memory Dynamic random access memory (DRAM) is a type of random access memory that stores each bit of data in a separate capacitor within an integrated circuit. Since real capacitors leak charge, the information eventually fades unless the capacitor charge is refreshed periodically. (DRAM), Flash memory and embedded memory and logic products. Alliance designs, develops and markets its products to the networking, telecommunication, instrumentation, consumer and computing markets. Alliance manufactures its products through independent manufacturing facilities, using advanced CMOS (Complementary Metal Oxide Semiconductor) Pronounced "c-moss." The most widely used integrated circuit design. It is found in almost every electronic product from handheld devices to mainframes. process technologies with line widths as narrow as 0.18 um. The Company, through its venture arm Alliance Venture Management, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , invests in five venture funds. Alliance Ventures I, LP focuses on investing in networking and communication start-up companies, Alliance Ventures II, LP focuses on investing in internet start-up ventures, Alliance Ventures III, LP, focuses on emerging companies in the networking and communication market areas, Alliance Ventures IV, LP, focuses on semiconductor companies and Alliance Ventures V, LP, focuses on infrastructure companies. Alliance was founded in 1985. Additional Company information can be found on its home page: http://www.alsc.com. Forward Looking Statements Except for historical information, the above statements of this press release (including, without limitation, expressions of expectation, belief, anticipation or estimation of the Company or its management) are forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in the forward looking statements. These risks and uncertainties include such factors, among others, as diminution of the stock price Adaptec, Inc., and the failure of warranties made by Platys Communications, Inc., and the risk factors listed under Item 1: Business and Item 7: Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of Financial Condition and Results of Operations in the Company's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended March 31, 2001 which has been filed with the Securities and Exchange Commission, and which is available through the Company's home page, www.alsc.com. These forward-looking statements speak only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or to reflect any change in events, conditions or circumstances on which any such forward-looking statement is based, in whole or in part. |
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