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© bellemedia / dreamstime.com Business | March 22, 2012

Sigma Designs to buy Trident's DTV business

Sigma Designs has signed an asset purchase agreement to serve as the 'stalking horse' bidder to acquire certain assets of Trident Microsystems, Inc.'s Digital Television (DTV) Business.

This includes certain products, licensed intellectual property, software and leased facilities. The purchase price - subject to an adjustment for the closing current asset balance of the DTV Business to the extent the closing current assets differ from a target current asset balance - amounts to USD 21 million in cash plus assumption of specified liabilities upon the closing of the transaction. The asset purchase agreement has been filed with the United States Bankruptcy Court for the District of Delaware and is subject to a court-approved bidding and auction process in accordance with Section 363 of the U.S. Bankruptcy Code. The potential auction and final sale hearing for the assets is expected to be held within the next several weeks. Sigma expects to make employment offers to certain employees of Trident DTV Business, most of whom are located in China.
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