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Trident to sell DTV biz to Sigma

Posted: 10 Apr 2012 ?? ?Print Version ?Bookmark and Share

Keywords:digital television? acquisition? bankruptcy?

Sigma Designs Inc. has revealed that it finalized a deal to acquire Trident Microsystems Inc.'s digital television (DTV) business for $21 million, plus the assumption of some liabilities. Trident has filed for Chapter 11 bankruptcy protection in January.

Sigma said it was selected as the successful bidder for the assets of Trident's DTV business. The final cash purchase price remains subject to an adjustment for the closing current asset balance of the DTV business, Sigma added. Sigma's bid is subject to the approval of the U.S. Bankruptcy Court for the District of Delaware presiding over Trident's bankruptcy proceedings, Sigma indicated.

"With this transaction, we will increase our revenue scale, expand our product offerings, and will have the ability to leverage our combined operational resources and OEM relationships across some of the largest high growth connectivity markets," said Thinh Tran, Sigma's chair and CEO. "We are focused on successfully growing the DTV business and our existing business and believe the outcome of this transaction will provide long-term benefits to our customers, employees and shareholders."

The transaction is expected to close in Q2.

- Dylan McGrath
??EE Times





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