20th Mar 09
Gennum to acquire Tundra Semiconductor
Gennum Corporation and Tundra Semiconductor Corporation
have signed definitive agreement allowing Gennum to acquire
Tundra Semiconductor. The transaction is valued at approximately
Cdn$86 million. Through this inorganic growth Gennum is
now a bigger and better Canadian semiconductor company and
paving way to expand its product portfolio more than what
it has gained from Tundra.
Some of the notable business gains mentioned by Gennum
include,
1. Added scale and increased market presence in an expanded,
US$1.9 billion total addressable market
2. A strongly positioned business in signal integrity, bridges
and switches using RapidIO,
VME, SDI and HDMI standards, as
well as in PCI Express (PCIe)
Gennum believes that by combining the digital expertise,
application knowledge and high-speed interconnect products
of Tundra with its high-speed signal integrity portfolio
and IP, Gennum will accelerate its ability to provide solutions
with more integrated functionality to a broader set of markets
such as telecommunications, computing and storage.
"Through the acquisition of Tundra, Gennum is positioned
to achieve its strategic and financial objectives more quickly
and accelerate the development of highly differentiated,
high-speed interconnect and signal integrity products,"
said Dr. Franz Fink, President and Chief Executive Officer
of Gennum. "We believe that Tundra's strong position
with leading communications systems OEMs, particularly in
the telecommunications market, as well as its global sales
network and foundation of talented employees, will increase
Gennum's ability to provide more, high value products to
a broader set of markets and will result in increased opportunities
for the combined company to grow its business."
"We believe that the acquisition of Tundra will create
a much stronger combined company, capable of expanding the
served markets and applications for our products,"
said Daniel Hoste, President and Chief Executive Officer
of Tundra. "By integrating our recognized expertise
in high-speed digital products and technologies, talented
employees, and extensive sales networks, with Gennum's organization
we will increase shareholder value and create new opportunities
for the long-term success. Combined, we believe we will
create a formidable competitor that is well positioned in
high-speed interconnect markets that require signal integrity."
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