CEO: CSwitch halted operations, seeks buyer
(07/03/2009 1:29 PM EDT)
SAN FRANCISCO -- As had been rumored, programmable logic startup CSwitch Corp. has ceased operations and is looking to be acquired, the company's top executive confirmed Friday (July 3).
CSwitch President and CEO Doug Laird told EE Times that investors made the decision to temporarily halt operations sometime within the last few weeks. The move was made to conserve cash as investors initiated efforts to sell the company, Laird said.
Laird said CSwitch (Santa Clara, Calif.) is in negotiations with multiple companies interested in acquiring the firm. Because the negotiations are ongoing, Laird said he could not provide further details at this time.
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