IDT and VIA Sign Definitive Agreement for Acquisition of Centaur x86 Design Subsidiary.SANTA CLARA Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. , Calif.--(BUSINESS WIRE)--Sept. 15, 1999-- IDT IDT Integrated Device Technology, Inc. (Santa Clara, CA, USA) IDT I Don't Think IDT Identity Theft IDT Interrupt Descriptor Table IDT Integrated DNA Technologies IDT Inactive Duty Training IDT Instructional Design & Technology , Inc. (Nasdaq:IDTI IDTI Integrated Device Technology Inc ) and VIA Technologies, Inc. today announced they have signed a definitive agreement detailing the transaction in which VIA Technologies, Inc. and its partners will acquire IDT's Centaur Technology Centaur Technology is an x86 CPU design company, now a wholly owned subsidiary of VIA Technologies, a member of Taiwan's largest industrial conglomerate, the Formosa Plastics Group. History Centaur Technologies Inc. x86 microprocessor design subsidiary. In August 1999, the companies announced their intention to transfer ownership of Centaur centaur (sĕn`tôr), in Greek mythology, creature, half man and half horse. The centaurs were fathered by Ixion or by Centaurus, who was Ixion's son. to VIA. Under the terms of the agreement, IDT will receive cash proceeds of $51 million for intellectual property (IP) related to WinChip microprocessor technology, IDT's Centaur x86 microprocessor design subsidiary and a patent cross license. The companies expect the transaction to close within the month. "Centaur's design group allows VIA to put multiple CPU design CPU design is the design engineering task of producing a CPU, a component of computer hardware. It is a subfield of electronics engineering and computer engineering. Overview CPU design focuses on these areas:
in full central processing unit Principal component of a digital computer, composed of a control unit, an instruction-decoding unit, and an arithmetic-logic unit. lineup." "We are pleased that Centaur's new owner has the focus and sincere desire to execute on the team's original mission for the low-cost PC marketplace," said Len Perham, IDT's chief executive officer. "We're also satisfied with the terms of this transaction, which is another step in strengthening the focus of our business on providing value-added solutions to the communications market." The terms of the patent cross license will allow each company to utilize each other's IP within their respective existing target markets. This cross license covers existing patents and extends over the life of those patents. Since the companies signed a letter of commitment for the above transaction in August, VIA has extended employment offers to the entire Centaur design team, including Glenn Henry, Centaur's president, and has begun to assume responsibility for design direction. About VIA Founded in 1987, VIA Technologies, Inc. headquartered in Taipei, Taiwan, designs, engineers and manufactures cost-effective, highly integrated, high functionality system logic chipsets and associated peripherals for manufacturers of desktop and portable PC systems. About IDT IDT enables a digitally connected world by providing innovative semiconductor solutions to leading-edge system designers in communications and computing. IDT's broad product mix consists of communications memories, networking devices, RISC RISC in full Reduced Instruction Set Computing Computer architecture that uses a limited number of instructions. RISC became popular in microprocessors in the 1980s. microprocessors, high-speed SRAMs, high-performance logic and clock management products. Headquartered in Santa Clara, Calif., the Company employs approximately 4,700 people worldwide and has manufacturing facilities in California, Oregon, the Philippines, Malaysia and Australia. IDT stock is traded on the Nasdaq stock market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbol "IDTI." Additional information about IDT is easily accessible through the Web (www.idt.com), CD-ROM CD-ROM: see compact disc. CD-ROM in full compact disc read-only memory Type of computer storage medium that is read optically (e.g., by a laser). by calling 800/345-7015 or via fax-on-demand at 800/9-IDT-FAX. The investor hotline is 408/654-6420. Forward-looking statements in this release involve a number of risks and uncertainties including, but not limited to, product demand, manufacturing, capacity and costs, competition, pricing, patent and other intellectual property rights of third parties, timely development and supply of new products and manufacturing processes, availability of capital, cash flow and other risk factors detailed in the Company's Securities and Exchange Commission filings. Actual results may differ materially from the Company's projections. Media Note: VIA is spelled in ALL CAPS. All trade names and marks are the property of their respective companies. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion