SHELTON, CT – October 27, 2008
– TranSwitch® Corporation, a leading provider of semiconductor solutions for the converging voice, data and video network, today announced that it has completed its acquisition of Centillium Communications, Inc., a leading provider of highly innovative communications processing technology.
Under the terms of the agreement entered into on July 9, 2008, TranSwitch will issue an aggregate of 25,000,000 shares of common stock and pay $15,000,000 in cash, which will be allocated pro rata among holders of Centillium common stock and in the money stock options outstanding at the closing of the merger. Centillium stockholders will own approximately 16% of the combined company.
“We are pleased to welcome Centillium’s customers, employees and shareholders to the TranSwitch team,” said Dr. Santanu Das, president and CEO of TranSwitch Corporation. “The combined company offers a portfolio of best-in-class communications semiconductor products for next-generation broadband access, Fiber-to-the-Home, Voice-over-IP, carrier Ethernet, and HDMI-based video transport. The combined company will also be a major beneficiary of high profile global telecommunications projects in countries such as the UK, Korea, China, India, and Japan.”