Electronics Production |
Simtek acquires ZMD
Simtek Corporation, a supplier of advanced nonvolatile static random access memory (nvSRAM) products, announced the signing of a definitive agreement with Zentrum Mikroelektronik Dresden AG (“ZMD”) for Simtek to purchase certain assets related to ZMD's nvSRAM product line.
The transaction will give Simtek access to additional Tier 1 customers especially in Europe. Therefore marketing efforts in Europe will be increased. Simtek's engineering team will be strengthened with world class expertise from the nvSRAM design team of ZMD joining the firm.
The transaction is expected to be accretive in the first year. Simtek will regain sole ownership of certain proprietary nvSRAM intellectual property and will gain access to certain ZMD patents.??The deal will cost $8 million in cash and $2 million in stock and includes more than $1 million in shippable inventory.
