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Zoran completes acquisition of Oak Technology

Posted: 13 Aug 2003 ?? ?Print Version ?Bookmark and Share

Keywords:zoran? dvd? digital camera? HDTV? digital imaging?

Zoran Corp., a provider of digital solutions-on-a-chip for the DVD and digital camera markets, has completed the acquisition of Oak Technology Inc. Oak Technology, a provider of embedded solutions for the HDTV and digital imaging markets, will operate as a wholly-owned subsidiary of Zoran.

Under the terms of the merger agreement, first announced on May 5, 2003, stockholders of Oak will receive 0.2323 of a share of Zoran common stock and $1.78 in cash for each share of Oak common stock they held.

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