Thursday, March 4, 2010

DS2 Files for Bankruptcy Reorganization

DS, which supplies high-speed powerline and coax communications silicon, initiated a voluntary Concurso de Acreedores (similar to a Chapter 11 filing) in the Spanish courts while it develops a plan of reorganization to address its debt. DS2 said it will continue to operate as usual and continue its long-standing commitment to its customers, suppliers, partners and employees.

DS2 is in the process of finalizing development of its chipset and will have samples in Q3. DS2's next generation silicon is also compatible with the installed base of UPA devices providing extended life cycle and investment protection for current deployments of DS2 technology.

"Our business is returning to normal and 2010 run rates are back at 2008 levels. We expect to emerge from this process as a stronger, healthier and more competitive company and continue our legacy of delivering excellence in innovation and customer satisfaction by creating the most advanced and sustainable standards based semiconductors for high-speed communications over existing wires", said José Angel Mart�n, DS2 CFO.

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