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Tundra Semiconductor Terminates Product Acquisition and License Agreements with IBM
Ottawa, Ontario – June 3, 2008 - Tundra Semiconductor Corporation (Tundra), a leader in System Interconnect, has terminated its product acquisition agreement, announced in August, 2007, with IBM Global Engineering Solutions (IBM), effective June 1, 2008. The acquired product was to be based on an IBM Power Architecture™ 90 nm processor core. IBM recently notified Tundra that the performance of the core is lower than previously stated. Since the IBM core cannot meet the stated performance, the product is now unsuitable for Tundra’s intended target applications and market. In November, 2007, Tundra also signed a license agreement with IBM to bring new 65nm Power Architecture solutions to market as part of Tundra’s smart System Interconnect (sSI) strategy and roadmap. As a result of the decision to terminate the product acquisition agreement, and based on Tundra’s review of the current IBM performance data for the 65nm core, Tundra has also made the decision to terminate that license agreement. Tundra intends to actively pursue alternative means of executing against its sSI strategy to bring intelligent System Interconnect solutions to broader global markets. About Tundra
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