Electronics Production | December 07, 2006
ASIC Design Center division of Data JCE in Israel acquired by TranSwitch
TranSwitch® Corporation today announced that it has entered into a definitive agreement to acquire substantially all of the assets of the ASIC Design Center division of Data JCE, Ltd., a publicly-held Israeli electronic components distribution company.
TranSwitch is planning to acquire the ASIC Design Center division of Data JCE. The Data JCE ASIC Design Center develops and supplies customer-specific semiconductor products primarily to Israeli OEMs and fabless semiconductor companies, or Israeli divisions of US and European companies under exclusive agreements. TranSwitch has been in the business of providing ASSP (Application Specific Standard Products) semiconductor devices. However, in order to differentiate their platforms, our customers occasionally seek unique functionality that is not found in standard products," said Dr. Santanu Das, president and CEO of TranSwitch. “By being able to provide customer-specific ASIC solutions to complement our broad array of ASSP offerings, TranSwitch is expanding its available and served market. The Data JCE ASIC Design Center has successfully designed more than 50 products since 1996 and the division has been profitable since Q1 2000. The division presently ships products to seven active customers purchasing 13 products under exclusive sales arrangements. This ongoing business will be transferred to TranSwitch when the acquisition closes. TranSwitch believes that this new ASIC design group's operations will be accretive in 2007. Under the terms of the agreement, TranSwitch will pay an upfront cash consideration of $1 million and will issue approximately $5.7 million worth of TranSwitch Common Stock in exchange for the ongoing business of Data JCE ASIC Design Center. Upon satisfactory achievement of certain operating objectives over calendar year 2007, TranSwitch will pay an additional amount in the form of TranSwitch stock or cash, at its option, based on performance. The acquisition is expected to close on or about January 10, 2007, subject to the approval of the shareholders of Data JCE and certain closing conditions.
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