Novafora to Acquire Transmeta (TMTA) for $255.6 Million
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Transmeta Corporation (Nasdaq: TMTA) and Novafora have signed a definitive agreement for Transmeta to be acquired by Novafora for $255.6 million in cash, subject to certain working capital and other adjustments. Novafora is a privately held fabless semiconductor company in San Jose, California that develops a family of digital video processors.
Under the terms of the agreement, and based on current estimates of Transmeta’s future working capital and other adjustments at the effective time of the merger, stockholders are expected to receive between $18.70 and $19.00 for each outstanding share of Transmeta’s common stock.
The merger has been unanimously approved by Transmeta’s and Novafora’s Board of Directors and is subject to Transmeta’s stockholder approval and other customary closing conditions.[SM]
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