Entropic (ENTR) Successful Bidder on Trident Micro's STB SoC Assets
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Entropic Communications, Inc. (Nasdaq: ENTR), has been selected as the successful bidder to acquire Trident Microsystems' set-top box (STB) system-on-a-chip (SoC) assets for a purchase price of $65 million, a $10 million dollar increase to its original offer.
Today's announcement follows the completion of an auction, and the final transaction is subject to approval of the United States Bankruptcy Court for the District of Delaware. A court order authorizing Trident to sell the STB SoC assets to Entropic is expected to be entered on or about March 6, 2012.
Entropic expects to make employment offers to approximately 375 Trident employees worldwide.
The transaction, which remains subject to customary closing conditions, is expected to close by the end of the first calendar quarter of 2012. Entropic will provide additional details as to the financial implications of the transaction and guidance for the combined business following the close of the transaction.
Today's announcement follows the completion of an auction, and the final transaction is subject to approval of the United States Bankruptcy Court for the District of Delaware. A court order authorizing Trident to sell the STB SoC assets to Entropic is expected to be entered on or about March 6, 2012.
Entropic expects to make employment offers to approximately 375 Trident employees worldwide.
The transaction, which remains subject to customary closing conditions, is expected to close by the end of the first calendar quarter of 2012. Entropic will provide additional details as to the financial implications of the transaction and guidance for the combined business following the close of the transaction.
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