Dec 08, 2004 (7:33 AM)
LONDON — The DSP Group has bought the bulk of the intellectual property owned by Wi-Fi chip startup Bermai Inc.
In late September, just as it was ready to go into production with its initial 802.11a wireless LAN CMOS two-chip set supporting video streaming, Bermai was forced to shut its doors after failing to generate Series C funding.
The Israeli group, which has its U.S. operations in Santa Clara, Calif., plans to further develop and offer chip sets using the acquired technology and IP.
Former Bermai employees, who will become nonexecutive officer employees of DSP Group following the acquisition, were granted employment inducement stock option grants to purchase a total of 239,000 shares of DSP Group common stock.
The option grants have an exercise price of $22.67 per share and will vest over a period of four years.
Bermai laid off 55 employees in September when it put its IP up for sale.
The Bermai chip set incorporated both single-input, multiple-output antenna technology and advanced quality-of-service, and the company was targeting a market segment that many say will be the next big battleground in wireless communications.
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