Electronics Production |
Chip developer in acquisition talk
The past few years Switchcore has been actively negotiating with financial and industrial partners for partnership in the development process and collaboration to expand it's product range in order to strengthen the company's position on a very competitive market.
These discussions, mainly with industrial partners, have entered a more intensive phase in recent months. Sweden based SwitchCore's Board has therefore commissioned two investment bankers to advise the company in this process.
It is currently not possible to monitor the result of the ongoing talks. It might result in a decision to run the development project in-house or a proposal to merge all, or parts of SwitchCore's business with a Swedish or internationally strategic partner.
Against the background of the ongoing talks, the Board has deemed it necessary to postpone the 2007 Annual General Meeting, initially scheduled for May 2, until Thursday, June 14. Notification of the Annual General Meeting will be distributed around May 15, 2007.
SwitchCore is in an active development phase with the third product generation, Xpeedium3. The first part of the development, which entailed production of the Network Search Engine, NSE, was completed at the beginning of 2007. Its current plans stipulate that development of Xpeedium3 should be completed by the end of 2007.
