Key Developments For Sigma Designs, Inc.
Sigma Designs, Inc. (SIGM.O) (Nasdaq)
Sigma Designs, Inc. Completes Acquisition Of CopperGate Communications Ltd.
Sigma Designs, Inc. announced the completion of its acquisition of CopperGate Communications Ltd. (CopperGate). Under the terms of the acquisition agreement, which was previously announced on October 13, 2009, Sigma has acquired all of the outstanding share capital of CopperGate for a cash payment of approximately $116 million and the issuance to CopperGate shareholders of an aggregate of approximately 3.9 million shares of Sigma common stock. Under the terms of the acquisition agreement, Sigma also assumed outstanding unvested options held by CopperGate employees and agreed to make an additional cash payment of up to $5 million to specified CopperGate employees upon attainment of specified milestones.
Sigma Designs, Inc. To Acquire CopperGate Communications Ltd.
Sigma Designs, Inc. and CopperGate Communications Ltd. announced that they have entered into a definitive agreement for Sigma to acquire CopperGate in a cash and stock transaction with an agreed value of $160 million, net of CopperGate`s cash at the closing of the transaction. The estimated amount of cash to be paid by Sigma on the closing date is approximately $92 million, plus the amount of cash and cash equivalents estimated to be held by CopperGate at the closing, net of CopperGate transaction expenses and debt outstanding at the closing. In addition, Sigma will issue shares of its common stock to CopperGate shareholders estimated at the time of signing to equal approximately 4.0 million shares. Sigma has also agreed to pay up to an aggregate of $5.0 million in cash to specified CopperGate employees; provided that the eligible employee remains employed by Sigma and certain milestones are achieved. Sigma will also assume unvested stock options held by CopperGate employees that will become exercisable for approximately 0.5 million Sigma shares when vested in accordance with their existing vesting schedules. The definitive agreement and the acquisition have been approved by the Board of Directors of each company.
Israel's CopperGate In Advanced Talks To Be Sold Sigma Designs, Inc.-Reuters
Reuters reported that Israeli home networking chip firm CopperGate Communications is in advanced negotiations to be acquired, according to one of its investors. Business newspaper Calcalist reported that Sigma Designs, Inc. is expected to announce on Monday the acquisition of CopperGate for $200 million in cash and shares.
MIPS Technologies, Inc. And Sigma Designs, Inc Bring Full HD Experience to Android Platform
MIPS Technologies, Inc. and Sigma Designs, Inc. announced that they are bringing a full high-definition (HD) experience to the Android platform. The companies will demonstrate an Android-based system displaying 1080p video on a full HD flat screen display. This HD video demonstration is a milestone toward the creation of a reference platform for an Android-based set-top box (STB) -- a goal that Sigma and MIPS have been jointly working toward with other members of the STB working group of the Open Embedded Software Foundation (OESF). The goal of the OESF consortium is to drive Android into new consumer electronics segments beyond the mobile handset, where Android is already finding success.
Sigma Designs, Inc. And 4Home Team Up To Deliver Set-Top Box Reference Design For Home Control Services
Sigma Designs, Inc. announced a partnership with 4Home, Inc., a provider of home control services, to expand the range of additional services in the home through Sigma`s set-top box (STB) reference designs. As a result of this partnership, Sigma will be able to offer set-top box suppliers an integrated home control solution, based on 4Home`s software platform and the complete Z-Wave ecosystem of RF-based home control devices.
