COMCORE BEING ACQUIRED; $122 MILLION CASH FOR CALABASAS FIRM.Byline: Enrique Rivero Daily News Staff Writer Closely held A phrase used to describe the ownership, management, and operation of a corporation by a small group of people. In a closely held corporation, the same people often act as shareholders, directors, and officers, and no outside investors exist. ComCore Semiconductor Inc. has agreed to be acquired by Santa Clara-based National Semiconductor Corp. in a $122 million cash deal that could help the Northern California Northern California, sometimes referred to as NorCal, is the northern portion of the U.S. state of California. The region contains the San Francisco Bay Area, the state capital, Sacramento; as well as the substantial natural beauty of the redwood forests, the northern company regain its slipping share of the ethernet market. The deal, announced Friday, gives National advanced technology developed by the small, year-old ComCore that enables computer chips to do more work more efficiently. ``This is an opportunity for us to marry, if you will, our skills . . . with their recognized experience in mixed signal chip development work,'' said John Guidon gui·don n. 1. A small flag or pennant carried as a standard by a military unit. 2. A soldier bearing such a flag or pennant. , ComCore's president and chief executive officer. National Semiconductor's historically dominant share of the computer network technology has been slipping because it was late in bringing out the next generation product, said Mark Edelstone, senior semiconductor analyst for Morgan Stanley  To comply with Wikipedia's , the introduction of this article needs a complete rewrite. Dean Witter Dean Witter may refer to:
``It's a hot segment of the market and if they execute the acquisition properly, this can help National solidify their position,'' he said. The deal is expected to close May 31, the end of National Semiconductor's fiscal year. National will take an $85 million to $95 million one-time charge in the fourth quarter for the purchase, company spokesman Bill Callahan Bill Callahan is the name of:
``This represents a key piece of technology that we can add to our tool kit so we can do things we couldn't do before,'' he said. Most of ComCore's 42 employees are expected to retain their jobs, Callahan said. National's third quarter net income was $26.2 million, or 16 cents per diluted share, on sales of $650.1 million. This compares with $28.7 million, or 18 cents, on $564.5 million in sales in third quarter 1997. On Tuesday, National Semiconductor announced that it was laying off 1,400 - or about 10 percent of its 13,700-strong worldwide work force - to cut costs in the face of falling demand for computer chips. The cuts will be in the United States. National Semiconductor's stock closed unchanged Friday at 22-3/4. |
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