ARC appoints broker to help sort 'strategic options'
ARC appoints broker to help sort 'strategic options'
By Peter Clarke, Semiconductor Business News
November 3, 2002 (9:37 a.m. EST)
URL: http://www.eetimes.com/story/OEG20021101S0035
ELSTREE, England -- ARC International plc, a provider of configurable processor intellectual property under license, has appointed WestLB Panmure Ltd. as financial advisor to help it sort out its strategic options. ARC did not go into detail about the options but said it does include the capital structure of the company and its business plan. West LB Panmure joins Goldman Sachs as a joint-broker and joint-advisor to ARC. ARC said in a statement placed on its website today (November 1, 2002) that its board of directors is working with its advisors to evaluate the relative merits of the strategic options currently available to the company, including a review of the group's capital structure and requirements and its business plan. The board expects to make substantive progress on this review in the month of November and to announce the outcome of this work as soon as it is complete and ready for implementation, ARC said. In the company's third quarter results, reported on October 24, sales revenue was up 37% year-on-year to about $4.4 million but down 2% sequentially at constant exchange rates excluding 6% currency impact, the company said. The net loss for the period was about $11.7 million reduced from about $17.5 million in the same period a year earlier (see October 24 story).
Related News
- ARC Announces Strategic Organizational Changes: Appoints Meyer to COO, Establishes ''Office of the CTO''
- Wave Computing Appoints Michael Schroeder as Chief People Officer To Help Drive Company's Global Expansion Plans
- ARC International Appoints Consumer Marketing Executive to Drive the Company's Multimedia Programs
- Ceva and India's No. 1 Audio and Wearable Brand, boAt, Announce Strategic Partnership to Enhance the Wireless Audio Experience
- Siemens and TSMC collaborate to help mutual customers optimize designs using foundry's newest advancements
Breaking News
- PUFsecurity Unveils Next-Gen Crypto Coprocessor PUFcc7 Featuring High-speed Performance and TLS 1.3 Support
- VeriSilicon's complete Bluetooth Low Energy IP solution is fully compliant with LE Audio specification
- TASKING and Andes Announce FuSa Compliant Compiler Support for Andes RISC-V ASIL Compliant Automotive IP
- Efabless Launches an "AI Wake Up Call" Open-Source Silicon Design Challenge
- Efinix Rolls Out Line of FPGAs to Accelerate and Adapt Automotive Designs and Applications
Most Popular
- Qualitas Semiconductor and Ambarella Sign Licensing Agreement
- ZeroPoint Technologies Signs Global Customer to Bring Hardware-Accelerated Compression to Hyperscale Data Centers
- Chiplet Interconnect Pioneer Eliyan Closes $60 Million Series B Funding Round, Co-led by Samsung Catalyst Fund and Tiger Global Management to Address Most Pressing Challenge in Development of Generative AI Chips
- Intel and Arm Team Up to Power Startups
- Alphawave Semi and InnoLight Collaborate to Demonstrate Low Latency Linear Pluggable Optics with PCIe 6.0® Subsystem Solution for High-Performance AI Infrastructure at OFC 2024
E-mail This Article | Printer-Friendly Page |