|sounds like a great deal to me...|
Atmel to Sell its Grenoble, France Subsidiary
SAN JOSE, Calif., July 13 /PRNewswire-FirstCall/ -- Atmel(R) Corporation
(Nasdaq: ATML), a global leader in the development and fabrication of advanced
semiconductor solutions, announced today that it has signed an agreement to
sell its Grenoble, France subsidiary including the manufacturing facility for
approximately $140 million in cash to e2v technologies plc, a British
corporation, subject to the approval of e2v technologies' shareholders.
"This is an important step in Atmel's plan to consolidate its
manufacturing operations as we continue to focus resources on our core
technologies," said George Perlegos, Chairman and Chief Executive Officer.
Keith Attwood, Chief Executive of e2v technologies commented, "We believe
Atmel Grenoble is a great strategic fit for e2v and provides exceptional
opportunities to extend our reach into existing market sectors with a broader
range of products."
Atmel will retain rights to its patented finger print scanning recognition
technology. All other Grenoble products including image sensors and aerospace
qualified microprocessors are included in the sale.
The transaction is expected to be completed during Atmel's third quarter.
Additional details will be provided by Atmel Corporation during its Q2
earnings conference call on July 25, 2006.