Business
HONEYWELL ACQUIRES E-MON, LLC
Honeywell (NYSE: HON) today announced it has acquired E-Mon, LLC, a leading manufacturer of electric submetering products and systems. The acquisition will enable Honeywell to offer a more complete energy efficiency portfolio to a broader customer base and strengthens its offerings in support of the smart grid.
Synopsys and Virage Logic Announce Expiration of Hart-Scott-Rodino Waiting Period for Proposed Acquisition
Synopsys, Inc. (Nasdaq: SNPS) and Virage Logic Corporation (Nasdaq: VIRL) announced today that the 30-day waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, applicable to Synopsys' proposed acquisition of Virage Logic, expired on July 19, 2010.
NXP Semiconductors Announces Indicative Preliminary Second Quarter 2010 Results
NXP total sales were between $1,190 and 1,200 million in the second quarter of 2010, reflecting comparable growth of between 5.5% and 6.4% and nominal growth of between 2.1% and 3.0%, as compared to the first quarter of 2010. The increase was visible across all business segments and regions.
Mirics secures additional $13M funding to fuel company growth
Mirics, the software-based broadcast TV receiver pioneer, today announced that it has secured $13M in additional funding with existing investors - Acacia Capital Partners, Intel Capital and Pond Ventures – all participating in this latest financing round. This additional funding will enable Mirics to grow its market share for its ground-breaking Mirics FlexiTV solution, targeting a wide range of consumer devices and PC platforms.
Ramtron Secures $6.0 Million Loan from Silicon Valley Bank
U.S. semiconductor maker Ramtron International Corporation (Nasdaq: RMTR), a leading developer and supplier of ferroelectric-based low-power memory and integrated semiconductor products, announced today that it has secured a $6.0 million loan from Silicon Valley Bank to strengthen its working capital position as the company makes the remaining capital and development investments in its current IBM foundry project.
Movidius scoops first Romanian R&D grant from EU
Movidius today announced that the company has been awarded a research and development grant from the first EU fund targeting Romania's R&D sector. This grant from the Regional Competitiveness and Employment Objective will enable Movidius to allocate a team of engineers and academics, boosting its development of 3D video capabilities and design tools for its Myriad mobile multimedia platform.
EVE Achieves Record Bookings of $19.9 Million in Q4 FY2010
EVE, the leader in hardware/software co-verification, today announced that it closed the last fiscal quarter of 2010 on March 31 with record bookings of $19.9 million. Further, since it began volume production in January 2010 of ZeBu-Server, its new billion-gate fast emulation platform, EVE has received purchase orders from eight semiconductor companies, including both new and long-time users of ZeBu platforms.
PMC-Sierra Completes Acquisition of Adaptec Channel Storage Business
PMC-Sierra, Inc. (Nasdaq:PMCS), the premier Internet infrastructure semiconductor solution provider, today announced it has completed the acquisition of the channel storage business from Adaptec, Inc. (Nasdaq:ADPT). The channel storage business includes Adaptec's RAID storage product line, the Adaptec(R) brand, a well-established global value added reseller customer base, board logistics capabilities, and leading SSD cache performance solutions. In accordance with the terms of the transaction announced May 10, 2010, PMC-Sierra paid approximately $34 million in cash for the acquisition and assumed certain liabilities related to the business.
Cadence Completes Acquisition of Denali
Cadence Design Systems, Inc. (Nasdaq: CDNS), a leader in global electronics design innovation, today announced that it has successfully completed the acquisition of Denali Software, Inc., a Sunnyvale, Calif.-based provider of electronic design automation (EDA) software and intellectual property (IP).
National Semiconductor Acquires GTronix; Adds to Analog Audio and Voice Processing Capabilities for Wireless Handset Applications
National Semiconductor announced it has acquired the technology of GTronix, a fabless semiconductor company specializing in programmable and adaptive analog sensory processing technology.
National Semiconductor Reports Results for Fourth Quarter Fiscal 2010
National Semiconductor Corp. (NYSE:NSM) today reported sales of $398.5 million and net income of $79.2 million, or 33 cents per diluted share, for the fourth quarter of fiscal 2010, which ended May 30, 2010.
Volex Acquires Manufacturing Licence For CXP Connector
Volex Group plc, the global electrical and electronic cable assemblies group, has acquired from Molex, Inc. the manufacturing licence for CXP high-speed copper connectors. This 12X CXP connector system offers a high-performance and cost-effective solution within high-speed environments, such as server farms and data archive centres.
ON Semiconductor Acquires Sound Design Technologies, Ltd.
ON Semiconductor Corp announced it has acquired privately held Sound Design Technologies, Ltd. (SDT) from an affiliate of Global Equity Capital, LLC, in an all cash transaction for initial consideration of approximately $22 million.
Tekdata fulfils exacting Eurofighter Typhoon test project
Tekdata Interconnections has completed delivery of 10 test benches supporting Spain's Eurofighter Typhoon programme, meeting a demanding design and assembly schedule that required the project to be completed within one year. The test benches form part of a suite used to test and integrate the entire avionics fitment for each aircraft before installation and ongoing diagnostics.
ZF Electronics exceeds budget forecasts for Q1 2010
ZF Electronics GmbH, part of the worldwide ZF Group, has announced that it has exceeded budget forecasts across most of its international operating divisions for the first quarter of 2010. The company reports that ZF Electronics Europe is 30% over budget on sales, the USA is up 46% on forecast and ZF Electronics UK has also turned in Q1 results ahead of expectations, despite lengthening lead times over recent months due to increased worldwide demand for raw materials. The company, which manufactures products for three main markets: computer input devices, the automotive sector, and industrial and domestic goods, also reports a very strong order book going forward.
Essemtec’s Essemsol to Focus on Application Development
Essemtec's new business unit Essemsol combines parts of development and production in order to shorten the realization time for customer-specific solutions. Essemsol is Essemtec's response to its increased number of exceptional machine solutions.
mimoOn GmbH announces first delivery of LTE mi!TestMOBILETM for Femtocell development and testing
mimoOn GmbH announced first commercial shipments of its advanced LTE Test-Mobile, mi!TestMOBILE, to a major infrastructure manufacturer in the Asia Pacific region. The customer will use mi!TestMOBILE to test their Femtocell designs initially in the lab, and later for field trials.
Magma Reports Revenue of $123.1 million for Fiscal 2010
Magma Design Automation Inc. (Nasdaq: LAVA), a provider of chip design software, today reported revenue of $33.6 million for its fourth quarter and $123.1 million for its 2010 fiscal year, both ended May 2, 2010.
Infineon and Elpida Settle Legal Dispute
Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) today announced that it has settled its patent infringement claim against Elpida Memory Inc., and both Infineon and Elpida have agreed to seek dismissal of all pending patent infringement cases. Infineon initiated proceedings in February 2010, when it filed a complaint against Elpida and Elpida's customers in the U.S. International Trade Commission (ITC). Elpida subsequently filed two lawsuits in the U.S. District Court, Eastern District of Virginia.
Cadence to Acquire Denali
Cadence Design Systems and Denali Software, Inc., a leading provider of electronic design automation (EDA) software and intellectual property (IP), today announced that the companies have entered into a definitive merger agreement under which Cadence will acquire Denali for $315 million in cash. Denali is expected to have approximately $45 million in cash at closing. In alignment with its EDA360 strategy, this transaction expands Cadence's solution portfolio to deliver efficient and cost-effective system component modeling and IP integration. The transaction was unanimously approved by the Cadence and Denali Boards of Directors.
Kontron acquires US company AP Labs Group
Through its US subsidiary, Kontron has acquired 100 percent of US company AP Labs Group, which is based in San Diego, California. The group, which has two operating companies, is regarded as one of the leading system integrators in the areas of defense and aerospace. Since its inception in 1984 the company has firmly established itself on the market for the development and series production of highly complex and robust computer systems, as well as specialized applications. Kontron anticipates that both new subsidiaries will make an annual revenue of USD 30 million. Kontron intends to integrate AP Labs with its North American headquarters, which is also based in San Diego. Kontron has access to cost-efficient, local production capacities as the result of the company AP Parpro Inc., which also forms part of the group and is located in Mexico, close to Kontron's NA headquarters.
KEMET Exceeds Previously Announced Fourth Quarter Forecast
KEMET Corporation (Other OTC: KEME) today reported preliminary results for the fourth fiscal quarter ended March 31, 2010. Net sales for the quarter ended March 31, 2010 were $213.0 million, which is a 56.6% increase over the same quarter last fiscal year and a 6.5% increase over the prior fiscal quarter ended December 31, 2009.
MindTree to Acquire the Business of 7Strata
MindTree Ltd., a global IT solutions company, today announced that it has entered into a definitive agreement to acquire the business (including people, customer contracts and Intellectual Properties) of 7Strata, a Remote Infrastructure Management (RIM) services provider. The acquisition will be effective 1 May 2010 and is subject to certain closing conditions which are expected to be completed shortly.
Agilent Technologies Reports Second Quarter 2010 Results
Agilent Technologies Inc. (NYSE: A) today reported revenues of $1.27 billion for the second fiscal quarter ended April 30, 2010, 16 percent above one year ago, 13 percent on a currency-adjusted basis. Second quarter GAAP net income was $108 million, or $0.31 per diluted share. Last year's second quarter GAAP net loss was $101 million, or ($0.29) per share.
Movidius secures Series B investment to fuel growth in mobile video
Mobile video specialist Movidius today announced that it has secured US$7.5 million in Series B investment. The funding round has been concluded with existing shareholders including Celtic House Venture Partners, Capital E, Emertec Gestion, AIB Seed Capital Fund and angel investors. This round will be used to fund Movidius' growth plans as the company begins deployment of its Myriad platform providing advanced imaging capabilities including 3D video capture in the next generation of mobile handsets.
PMC-Sierra Announces Agreement to Acquire the Channel Storage Business From Adaptec
PMC-Sierra the premier Internet infrastructure semiconductor solution provider, today announced the Company has entered into a definitive agreement with Adaptec, Inc. (Nasdaq:ADPT) to acquire its channel storage business. The channel storage business includes Adaptec's RAID storage product line, a well-established global value added reseller customer base, board logistics capabilities, and leading SSD cache performance solutions. PMC-Sierra will pay approximately $34 million in cash for the acquisition and assume certain liabilities related to the business. The transaction is expected to close in approximately 30 days, subject to customary closing conditions.
Astrodyne Acquires RO Associates - Provider of High-end, Ruggedized AC/DC & DC/DC Products
Astrodyne Corporation has acquired the assets of specialty power supply manufacturer RO Associates from Emrise Corporation (ARCA:ERI). RO Associates is an engineering company and a pioneer in the development of module-based power conversion solutions, which are now a mainstay in military, industrial and other harsh environment markets. Current products are deployed on airborne, shipboard and land vehicle applications, as well as a variety of industrial and medical products. Based in the Silicon Valley, RO Associates has developed a broad product line of high quality, highly efficient products.
A123 Systems Announces First Quarter 2010 Financial Results
A123 Systems (Nasdaq:AONE), a developer and manufacturer of advanced Nanophosphate™ lithium ion batteries and systems, today announced financial results for the quarter ended March 31, 2010.
Altera Announces First Quarter Results
Altera Corporation (NASDAQ: ALTR) today announced first quarter sales of $402.3 million, up 10 percent from the fourth quarter of 2009 and up 52 percent from the first quarter of 2009. New product sales increased 29 percent sequentially. First quarter net income was $153.2 million, $0.50 per diluted share, compared with net income of $103.0 million, $0.34 per diluted share, in the fourth quarter of 2009 and $44.0 million, $0.15 per diluted share, in the first quarter of 2009.
Maxwell Technologies Reports First Quarter Financial Results
Maxwell Technologies, Inc. today reported revenue of $26.6 million for its first quarter ended March 31, 2010, up 19 percent over the $22.5 million recorded in the same period in 2009. Operating loss for the first quarter 2010 was $1.6 million, compared with an operating loss of $1.8 million in the same period last year. Net income for Q110 was $1.2 million or $0.05 per diluted share, compared with a net loss of $3.0 million, or $0.13 per diluted share, in Q109. The net income/loss comparison is affected by a non-cash gain of $3.2 million, or $0.12 per diluted share, in Q110 vs. a non-cash loss of $0.6 million, or $0.03 per diluted share, in Q109, based on the quarterly valuation of conversion features and warrants associated with convertible debentures issued in 2005.
ZF back on growth track after crisis
ZF Group wants to dramatically raise sales and earnings in the current year. After a 25-percent drop in sales to just under 9.4 billion euros and an operational loss of 361 million euros in the previous fiscal year, the auto supplier anticipates sales growth for 2010 of around 10 percent. ZF's primary goals are to surpass the break-even point in its business operations and to maintain its core workforce in Germany despite uncertain market conditions.
Heraeus achieves positive results in 2009 and starts strong in 2010
"By quickly and consistently instituting a package of targeted measures for restructuring and process optimization, we were able to achieve positive and overall satisfactory results for the challenging year posed by 2009," stated Dr. Frank Heinricht, Chairman of the Heraeus Holding Board of Management. After the downturn reached its full impact during the first two quarters, the second half of the year showed significant improvement, with the Group achieving operating results of €171 million. Product revenues reached €2.6 billion in financial year 2009, 11.4% lower than the previous year. Precious metal trading revenues came in at €13.6 billion (up 4.9% over 2008) due to the high price of gold, the continued rise in prices for other precious metals during the year, and the resumption of industrial demand during the fourth quarter.
Agilent Technologies Partners with Innowireless on LTE Test Solutions
Agilent Technologies Inc. today announced it has formed a strategic partnership with Innowireless Co., Ltd. to enhance the rapid development of LTE wireless test platforms. The partnership will strengthen Agilent's leadership position in LTE test and measurement. Agilent already develops design automation tools and flexible instrumentation solutions used in the research, development and manufacturing of LTE-based components, base-station equipment and mobile devices.
Fairchild Semiconductor Executive to Speak at Key Financial Conference
Fairchild Semiconductor, a leading global supplier of high performance power and mobile products, today announced that Dan Janson, vice president Investor Relations, will present at Baird's 2010 Growth Stock Conference on Tuesday, May 18, 2010 at 7:45 am CDT.
NXP Semiconductors Announces Preliminary First Quarter 2010 Results
NXP Semiconductors announced first quarter total sales of USD 1,165 million, a comparable year on year increase of 69.7% (nominal 66.0%) and a comparable sequential increase of 6.7% (nominal 0.3%). Comparable year on year sales growth in our High Performance Mixed Signal business segment was 82.5% and 81.6% in our Standard Products business segment. Sales continued to improve across each business segment and region.
STMicroelectronics Completes the Sale of Numonyx to Micron Technology
Following the announcement today by Micron Technology of the closing of its acquisition of Numonyx Holdings B.V., STMicroelectronics (NYSE:STM) announced that in connection with the sale of its 48.6% stake in Numonyx, ST has received the following consideration:
ON Semiconductor Reports First Quarter of 2010 Results
ON Semiconductor Corporation (Nasdaq: ONNN) today announced that total revenues in the first quarter of 2010 were $550.2 million, an increase of approximately 11 percent from the fourth quarter of 2009. During the first quarter of 2010, the company reported GAAP net income of $63.0 million, or $0.14 per fully diluted share. The first quarter 2010 GAAP net income included net charges of $22.3 million, or $0.05 per fully diluted share, from special items. The special item details can be found in the attached schedules. During the fourth quarter of 2009, the company reported a GAAP net income of $68.0 million, or $0.15 per fully diluted share.
Tektronix Acquires Synthesys Research, Inc.
Tektronix, Inc., a leading supplier of test, measurement, and monitoring products and solutions, today completed the acquisition of SyntheSys Research, Inc. The details of the transaction were not disclosed.
Covesion Ltd shows a Year on Year Growth of 85% with Support from the NanoKTN
The Nanotechnology Knowledge Transfer Network (NanoKTN), one of the UK's primary knowledge-based networks for Micro and Nanotechnologies, has helped an SME in the UK secure funding and partnerships, enabling company growth to exceed 85% between 2009 and 2010. Working with the NanoKTN, Covesion has formed strategic partnerships that have resulted in significant commercial impact on the business.
International Rectifier Announces Third Quarter Fiscal Year 2010 Results
International Rectifier announced financial results for the third quarter (ended March 28, 2010) of its fiscal year 2010. Revenue for the third quarter fiscal year 2010 was $241.9 million, a 15.1% increase from $210.2 million in the second quarter fiscal year 2010 and a 65% increase from $146.6 million in the third quarter fiscal year 2009.
