LFoundry to acquire Atmel's fab in Rousset, France

In accordance with French law, Atmel has presented the proposed acquisition to the employee representatives of the Works Council in Rousset. The Works Council is expected to render its opinion on the proposed transaction in the first quarter of 2010. If Atmel receives the approval of the Works Council, Atmel will seek authorization from its Board of Directors to enter into a definitive agreement with LFoundry GmbH. Proposed terms of the transaction were not disclosed. "We are excited by the potential combination of LFoundry and our Rousset, France wafer fab operations which establishes Europe's largest analog and mixed-signal foundry and provides a socially responsible transition plan and continuation of employment opportunities for our workers in Rousset," said Steven Laub, Atmel's President and CEO.