6th Mar 09
Gennum sells its Barium Strontium
Titanate (BST) business to Paratek
RF front-end component solution provider, Paratek Microwave
has agreed to purchase Gennum's barium strontium titanate
(BST) technology group and its associated assets. BST based
components are used in mobile handsets.
"Gennum has been an important contributor to the technological
development and advancement of BST. With Gennum deciding
to focus its investments on its core portfolio, we were
provided the opportunity to acquire the BST technology group
and assets and augment our own efforts to continue the commercialization
of this technology," said James DiLorenzo, CEO of Paratek
Microwave. "By combining
Gennum's BST expertise and existing patent portfolio with
our own applications, materials and systems expertise, we
believe this acquisition further strengthens our position
to bring ParascanTM based solutions to market and capitalize
on the significant opportunities it presents for multi-band,
multi-mode mobile handsets."
The compensation to Gennum from the sale transaction includes
a payment of approximately US$1.5 million for tangible assets,
which amount was paid at closing, and additional technology
transfer fees payable within the three year period following
the closing. In addition, Gennum is entitled to be paid
a royalty based on a percentage of Paratek's BST-related
revenue over a fixed period.
Paratek has acquired all assets of the BST technology group
including equipment and intellectual property. Four employees
of Gennum will join Paratek as part of the sale transaction.
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