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Atmel scouts potential buyers for ASIC biz

Posted: 06 Feb 2009 ?? ?Print Version ?Bookmark and Share

Keywords:ASIC? sale manufacturing fab?

Atmel Corp. is pursuing alternatives for its ASIC business and related manufacturing assets, including a potential sale. This is a further step in the company's transformation plan, which is focused on its core microcontroller business and enhancing its cost structure.

"Atmel's board and management team are focused on fully realizing the value of our company," said Steven Laub, Atmel president and CEO. "Over the last year, we have taken decisive actions to improve and restructure nearly every aspect of Atmel's operations. The exploration of strategic alternatives for our ASIC business is another step in Atmel's ongoing transformation plan."

Atmel's ASIC business is a provider of high performance customer specific integrated circuits and security solutions to the industrial, aerospace and consumer markets operating in three distinct segments: CSP, smart cards and aerospace. The ASIC business also includes an advanced 200mm fab located in Rousset, France, and a test and finishing operation located in East Kilbride, Scotland, United Kingdom, along with related design, operation, marketing, sales and support resources. Revenues for the ASIC business totaled $416 million for the 12 months ended Dec. 31, 2008.

Morgan Stanley is serving as Atmel's financial advisor in connection with the evaluation of strategic alternatives for the ASIC business.

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