SUNNYVALE, Calif- October 29, 2010 - Zoran Corporation (NASDAQ: ZRAN) announced today that the 30-day waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, applicable to Zoran’s proposed merger with Microtune, Inc. (NASDAQ: TUNE), expired at 11:59 pm Eastern Daylight Time on October 28, 2010. Completion of the transaction remains subject to other customary closing conditions, including approval by Microtune’s stockholders. Zoran anticipates that the transaction will be completed in the fourth quarter of 2010.
Zoran Corporation, based in Sunnyvale, California, is a leading provider of digital solutions for the digital entertainment and digital imaging markets. With over two decades of expertise developing and delivering digital signal processing technologies, Zoran has pioneered high-performance digital audio and video, imaging applications and Connect Share Entertain technologies for the digital home. Zoran’s proficiency in integration delivers major benefits for OEM customers, including greater capabilities within each product generation, reduced system costs, and shorter time to market. Zoran-based DTV, set-top box, DVD, digital camera, and multifunction printer products have received recognition for excellence and are now in hundreds of millions of homes and offices worldwide. With headquarters in the U.S. and additional operations in China, France, India, Israel, Japan, Korea, Sweden, Taiwan, and the U.K., Zoran may be contacted on the World Wide Web at www.zoran.com or at 408-523-6500.