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Sigma set to acquire VXP image processing biz of Gennum

Posted: 07 Jan 2008 ?? ?Print Version ?Bookmark and Share

Keywords:Sigma Designs Gennum? image processors? acquire VXP assets?

Sigma Designs has agreed to acquire assets of the VXP image processing business from Gennum Corp. Headquartered in Canada, Gennum designs optical, analog and mixed-signal semiconductor solutions and IP cores for advanced consumer connectivity, enterprise, video broadcast and data communications products.

"Gennum's innovative line of VXP image processing products and skilled VXP design team will allow us to expand into the professional market and add broadcast studio quality to our IC offerings for high-volume consumer applications in STBs for IPTV, high-definition disc players and digital televisions," said Thinh Tran, president and CEO, Sigma Designs. "The addition of the VXP group's leading video processing further extends Sigma's world leadership in multimedia SoC solutions.

Under the terms of the agreement, Sigma Designs will make cash payment of approximately $18 million and assume specified liabilities in exchange for assets of the VXP group, its current product line, inventory and equipment. The acquisition is subject to various standard closing conditions, including applicable consents and regulatory approvals, and is expected to close mid-February.

Upon completion of the acquisition, the VXP group will remain in the greater Toronto area as a technology center focused on the development of image processing solutions for integrated consumer chipsets as well as growing their present business in leading edge professional and home theatre applications. The group currently employs approximately 46 people, 42 of which are engineers with expertise in algorithms, IC design and software development. The VXP group holds rights to total of10 patent applications and has rights to use three patents.

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