Gennum Not to Match Competing Offer for Tundra
On April 27, 2009, Tundra announced that if Gennum does not offer to amend the terms of the Arrangement Agreement within the matching period under the Arrangement Agreement, Tundra is permitted to terminate the Arrangement Agreement and contemporaneously enter into the arrangement agreement submitted by IDT, subject to compliance with the Arrangement Agreement including the payment of a Cdn$5.0 million termination fee to Gennum. “After careful and thoughtful consideration, we believe our latest proposal to acquire Tundra represents our best assessment of the value it could bring to Gennum. Therefore, we believe that it is in the best interests of Gennum shareholders, customers, employees and other stakeholders to not further pursue this opportunity,” said Dr. Franz Fink, President and CEO of Gennum Corporation. “We have a talented team in place and a compelling growth plan to accelerate our business through innovative new products and IP. With our strong financial foundation, we are continuing to aggressively explore all potential opportunities that will accelerate our growth and further strengthen our company. We remain committed to our long-term strategy and are making excellent progress towards achieving our goals.”
About Gennum
Gennum Corporation designs innovative semiconductor solutions and intellectual property (IP) cores for the world’s most advanced consumer connectivity, enterprise, video broadcast and data communications products. Leveraging the company’s proven optical, analog and mixed-signal products and IP, Gennum enables multimedia and data communications products to send and receive information without compromising the signal integrity. An award winner for advances in high definition (HD) broadcasting, Gennum is headquartered in Burlington, Canada, and has global design, research and development and sales offices in Canada, Mexico, Japan, Korea, Germany, United States, Taiwan, India and the United Kingdom. www.Gennum.com.
|
Related News
- Gennum Provides Update on Proposed Acquisition of Tundra
- Gennum Increases Purchase Price to Acquire Tundra
- Gennum Signs Definitive Agreement to Acquire Tundra Semiconductor
- OMNIVISION and Valens Semiconductor Partner to Offer Automotive OEMs a MIPI A-PHY-Compliant Camera Solution for Advanced Driver-Assistance Systems Applications
- ZAYA and Andes Technology Offer Certifiable TEE Security for RISC-V Based Systems
Breaking News
- Sondrel appoints Gareth Jones as VP ASIC
- Accenture Completes Acquisition of XtremeEDA to Expand Silicon Design Capabilities in Canada and US
- Xiphera's first financing round successfully completed
- Breker Verification Systems Joins RISC-V International as a Strategic Member to Drive Cache Coherency and SoC Integration Verification Methodologies
- 2022 a Focus for 12-inch Capacity Expansion, 20% Annual Growth Expected in Mature Process Capacity, Says TrendForce
Most Popular
- Weebit Nano tapes out ReRAM demo chip to SkyWater foundry
- Intel Foundry Services Forms Alliance to Enable Design in the Cloud
- Samsung Begins Chip Production Using 3nm Process Technology With GAA Architecture
- Synopsys and Arm Strengthen Partnership to Advance Next-Gen Mobile SoCs for Arm's Total Compute Solutions
- SiFive Expands Global Operations, Opens UK R&D Center in Cambridge
![]() |
E-mail This Article | ![]() |
![]() |
Printer-Friendly Page |