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
- Renesas Announces Termination of Memorandum of Understanding and Tender Offer for Proposed Acquisition of Sequans
- SignatureIP launches its new iNoCulator NoC configuration tool with a free trial offer
Breaking News
- Numem at the Design & Reuse IP SoC Silicon Valley 2024
- Synopsys Accelerates Next-Level Chip Innovation on TSMC Advanced Processes
- TSMC Celebrates 30th North America Technology Symposium with Innovations Powering AI with Silicon Leadership
- Keysight, Synopsys, and Ansys Deliver Radio Frequency Design Migration Flow to TSMC's N6RF+ Process Node
- Siemens collaborates with TSMC on design tool certifications for the foundry's newest processes and other enablement milestones
Most Popular
- GUC provides 3DIC ASIC total service package to AI/HPC/Networking customers
- Qualitas Semiconductor Appoints HSRP as its Distributor for the China Markets
- Siemens collaborates with TSMC on design tool certifications for the foundry's newest processes and other enablement milestones
- Credo at TSMC 2024 North America Technology Symposium
- Huawei Mate 60 Pro processor made on SMIC 7nm N+2 process
E-mail This Article | Printer-Friendly Page |