Cypress Semi Agrees to Sell Silicon Valley Technology Center to Oak Hill Capital Partners and Tallwood Venture Capital

Co announced an agreement to sell its Silicon Valley Technology Center business to private equity firms Oak Hill Capital Partners and Tallwood Venture Capital for approximately $53 million in cash. The transaction is expected to close by early March. As part of the transaction, Cypress will transfer substantially all equipment, process technologies, and personnel associated with its SVTC business to the buyer. Cypress will remain an important SVTC customer.