Wednesday, November 11, 2009

Sigma Designs Acquires CopperGate

Sigma Designs completed its previously-announced acquisition of CopperGate Communications. Under the deal, which was first announced in October, 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.

Founded in 2000, CopperGate offers silicon solutions that drive home entertainment networks based on HomePNA. Its technology portfolio spans across all three wire-types: coax, phone, and power. CopperGate has also been one of the leading contributors to the next generation home networking standard, The company is based in Tel Aviv, with offices in Silicon Valley, Taiwan, Korea and Japan.

Sigma Designs is a fabless semiconductor provider that also specializes in solutions for entertainment and control throughout the home. SoC solutions include media processing, wired and wireless networking, video image processing, and home control along with system software to form the critical components of consumer electronic
products that include Internet protocol TV (IPTV) set-top boxes and gateways, Blu-ray players,
high definition televisions (HDTV), and media communication devices. Sigma Designs is headquartered in Milpitas,
California. The company has direct sales representatives in the United States, Brazil, China,
Europe, Israel, Japan, Taiwan and distributors in Singapore, Korea, Russia and India.

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