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Tundra to acquire Alliance's solutions business unit

Posted: 27 Apr 2006 ?? ?Print Version ?Bookmark and Share

Keywords:Tundra Semiconductor? acquisition? Systems Solutions Business Unit? Alliance Semiconductor?

Tundra Semiconductor Corp. has entered into a definitive agreement to acquire the assets of the Systems Solutions Business Unit (SSBU) of Alliance Semiconductor Corp. The acquisition includes intellectual property and several products both in production and under development.

"This acquisition broadens our product offering by adding PCI Express, HyperTransport and PCI bridges. These bridges are designed into systems currently in production at some of the world's leading communications companies," said Tundra President and CEO Jim Roche in a statement. "Moving forward, we will work with our customers to leverage the design expertise and capacity of the acquired business along with our existing technology base to develop a market-leading PCI Express product portfolio."

Under the terms of the agreement, Tundra will pay $5.8 million in cash upon closing. The acquisition is targeted to close on May 2, 2006 following the satisfaction of customary closing conditions. On closing, Tundra will assume responsibility for the acquired products and support, which will be available through Tundra's worldwide sales network.

Benny Chang, vice president of engineering at Tundra, said that through the acquisition of Alliance SSBU, they expect to hire 'an experienced and highly innovative design team' in Hyderabad, India, and a team in Santa Clara, California. "The unique skill and experience of this team combined with our existing complementary technologies supports our growing global operations and strengthens our competitive advantage," Chang said.

Tundra expects the acquired products to generate revenues of between $1.7 and $2 million in the first quarter of fiscal 2007, which starts on May 1, 2006. Thereafter, it is expected that the revenues will grow between 5 to 10 percent per quarter.

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