Key Developments For Virage Logic Corporation
Virage Logic Corporation (VIRL.O) (Consolidated Issue listed on NASDAQ Global Market)
Virage Logic Corporation Completes Acquisition Of NXP`s Horizontal Advanced CMOS Semiconductor IP Technology and Development Team
Virage Logic Corporation announced that it has completed the acquisition of NXP Semiconductors (NXP) horizontal advanced CMOS intellectual property (IP) rights and certain engineering talent and equipment. As part of the acquisition, approximately 150 former NXP employees and the assets associated with selected NXP advanced CMOS libraries, IP blocks and SoC infrastructure along with other classes of semiconductor IP, including approximately 25 associated patent families, are now part of Virage Logic. The strategic alliance between the two companies also includes a multi year, $60 million licensing and IP development relationship that further executes on NXP`s strategic vision to achieve leadership in high performance mixed signal and enables them to significantly reduce costs without compromising design capability. In consideration for the assets, NXP received 2.5 million shares of Virage Logic common stock,
Virage Logic Corporation Completes Acquisition Of ARC International plc
Virage Logic Corporation announced it has completed its acquisition of ARC International plc.
Virage Logic Corporation Issues Q1 2010 Guidance; Revenue Guidance Above Analysts' Estimates
Virage Logic Corporation announced that for first quarter 2010, it expects revenues of $18.5-$19.0 million and non-GAAP earnings per share (EPS) results of $0.02 to $0.04 per share. The Company expects to realize, before tax, approximately $2.6 million to $2.8 million in non-GAAP adjustments comprised primarily of stock-compensation and acquisition-related expenses. According to Reuters Estimates, analysts were expecting the Company to report revenues of $14.7 million and EPS of $0.04 for the same period.
Open-Silicon, MIPS Technologies, Inc. and Virage Logic Corporation Achieve High Performance ASIC Processor Design
Open-Silicon, Inc., MIPS Technologies, Inc. and Virage Logic Corporation announced the co-development of test chips showcasing the companies' technologies for building high-performance processor-based systems. The companies achieved successful 65 nanometer (nm) silicon testing of a processor test chip at 1.1GHz. Both efforts utilize Open-Silicon's CoreMAX technology as well as the superscalar MIPS32 74K processor core, a fully synthesizable processor core widely used in high-end digital consumer devices, set top boxes, and networking solutions.
NXP Semiconductors And Virage Logic Corporation Announce Strategic Agreement
NXP Semiconductors and Virage Logic Corporation announced a strategic agreement. The agreement calls for transfer of a part of NXP`s advanced CMOS intellectual property rights and certain engineering talent and equipment to Virage Logic. This arrangement includes a long-term licensing and IP development relationship between the companies. Virage Logic will establish an R&D center in Eindhoven providing on-going support to NXP and developing new products based on the acquired advanced CMOS I/O, analog mixed signal and System-on-Chip (SoC) infrastructure IP. Under the terms of the multi-year agreement, NXP will transfer over 160 employees and assets associated with selected advanced CMOS libraries, IP blocks and SoC architecture along with other classes of semiconductor IP, including approximately 25 associated patent families. In consideration for the assets, NXP will receive 2.5 million shares of Virage Logic common stock, which will be subject to transfer restrictions, and a share of the future revenue generated by Virage Logic from licensing the transferred IP portfolio. In addition, Virage Logic will provide to NXP services surrounding the transferred IP for a 3.5 year period, and NXP will receive a 3.5 year license to Virage Logic`s standard-products semiconductor IP portfolio for all future SoC designs. In consideration for the services and the license of the Virage Logic IP portfolio, NXP will pay Virage Logic $60 million over 4 years from closing of the transaction.
